Everstream Investment Recognized as Telecommunication Deal of the Year

Share

Share on facebook
Share on twitter
Share on linkedin
Share on email

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/

Cuba Burch Berner

Cuba Burch Berner is an Associate at M|C Partners, where he focuses on investment opportunities in digital infrastructure and technology services. Prior to joining the firm in 2022, Cuba was an Equity Research Associate at Citi covering infrastructure companies within the telecommunications industry, including data centers and wireless towers. He holds a B.S. in Mathematics with a specialization in Economics from the University of Chicago. Cuba currently lives in Boston’s West End and enjoys  a myriad of outdoor activities including running, swimming, hiking, and skiing.

Joined

2022

AFFILIATED PORTFOLIO

Contact

BOARD POSITIONS

AccentHealth

AccentHealth operates an out-of-home advertising network that reaches over 12,000 physician office waiting areas in the U.S. – JOHN WATKINS

TEAM MEMBERS

SECTOR

IT SERVICES

James F. Wade

Jim Wade co-founded M/C Partners in 1986 with Dave Croll. He has been investing in communications and technology services since the advent of wireless and broadband, cornerstones of the firm’s sector focus. As a founding managing partner, he manages the firm’s investment process, and continuously seeks out management teams, company prospects and financial resources to grow the portfolio. Jim’s successful track record includes MetroPCS (IPO), Lightower Holdings (acquired by Berkshire Partners), Triad Communications (acquired by T-Mobile), Brooks Fiber Properties (IPO and sale to AT&T Wireless), Cavalier Telephone (acquired by PAETEC), NuVox Communications (acquired by WindStream), Attenda (acquired by Darwin Private Equity), Melita (acquired by Apax Partners), PR Wireless (joint venture with Sprint affiliate in Puerto Rico), Thrive Networks (acquired/recapitalized by Court Square) and Involta (acquired by Carlyle Group). Today he serves as a director on the Board of Connectivity Wireless and has responsibility for Omega Wireless. Jim graduated from the University of Notre Dame a B.B.A in Finance and received an MBA from Harvard Business School. He lives outside Boston with his wife and four children. Jim was an avid boater and is now an average golfer.

JOINED

1986

Contact

BOARD POSITIONS
Connectivity Wireless

 

Connectivity
Wireless
Involta

Abhishek Rampuria

Abhishek (A.B.) is a Partner at M/C Partners, where he leads origination, deal diligence and portfolio company support for investments in a variety of communications and technology services segments. He currently serves on the Board of Ascend Technologies, Connectivity Wireless, Edafio Technology Partners, TowerCom and serves as a Board Observer for Thrive Networks. A.B. previously served as a Board Observer for Ensono (acquired by KKR) and QOS Networks (acquired by Zayo). Prior to joining M/C Partners in 2015, A.B. worked at Altman Solon (formerly Altman Vilandrie), a technology, media & telecommunications focused strategy consulting firm, where he completed projects for both operating companies and private equity investors. A.B. received a B.S. in Materials Science & Engineering from the Massachusetts Institute of Technology. He lives in Boston’s South End and outside of work, enjoys skiing, cycling, traveling and cheering on his home-town Patriots and Celtics.

Joined

2015

AFFILIATED PORTFOLIO

Thrive Networks

Contact

BOARD POSITIONS

Ascend Technologies
Connectivity Wireless
Edafio Technology Partners
TowerCom