M/C Partners acquisition honored with M&A Advisor Award
CLEVELAND – November 18, 2016 – The $50 million acquisition of Everstream, a superregional fiber-based network service provider, by Boston-based M/C Partners has been named the Telecommunication Services Deal of the Year by the M&A Advisor, a global leader on M&A activities.
The Everstream transaction competed against more than 320 nominees, representing in excess of 615 companies, to become one of 65 winners honored at the 15th Annual M&A Advisor Awards Gala, held in New York City last week. An independent judging committee of 35 M&A industry experts determined the final recipients.
“The Everstream transaction remains part of our long-term effort to invest in viable fiber service providers in underserved markets that have tremendous potential for growth,” said Gillis Cashman, managing partner, M/C Partners—a private equity firm that focuses on the communications, media and information technology sectors.
“We have been investing in fiber providers for more than two decades, and this is one in a long line of investments that have consistently given us strong returns,” Cashman said.
M/C Partners was supported by Private Equity Group J.P. Morgan Asset Management and Morgan Stanley Alternative Investment Partners. The investment has provided Everstream with capital for expansion, customer acquisition and the retirement of existing debt.
“In the year since this deal closed, Everstream has not just delivered on expectations; we have exceeded them,” said Brett Lindsey, president and chief executive officer, Everstream. “This transaction has allowed us to invest in our people, customers and network, elevating Everstream’s profile in the region.”
In addition to Everstream, M/C Partners, J.P. Morgan Asset Management and Morgan Stanley Investment Management; Choate, Hall & Stewart LLP, Ernst & Young, Morgan, Lewis & Bockius LLP, MVP Capital, and Thompson Hine LLP were named as honorees for the Telecommunication Services award.
Visit maadvisor.com or click here for a complete list of this year’s M&A Advisor award recipients.
About Everstream
Founded in 2014, Everstream is a superregional network service provider bringing fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest. We focus on delivering best-in-class network solutions while providing an unrivaled commitment to customer service. With more than 9,500 miles of fiber across five states and comprehensive data center connectivity at 10 Gigabit speed, we provide the fastest network in our service areas. Everstream’s network allows businesses to operate a converged IP network capable of delivering robust voice, video, and data services at speeds from 10 mbps to 100 gbps. For more information, visit everstream.net.
Media Contact
Suzanne Scarpino
Office 216-302-2615
Email: sscarpino@everstream.net
View source version here: https://everstream.net/press-releases/everstream-investment-recognized-as-telecommunication-deal-of-the-year/
