M/C Completes Acquisition of AerioConnect, Establishing a Platform in Residential and Commercial Broadband

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Los Angeles, CA (BUSINESS WIRE) M/C Partners, a Boston-based Communications and IT Services focused private equity firm, announced the acquisition of AerioConnect, LLC. (“Aerio”), a leading Internet Service Provider to multi-family and commercial clients in the greater Los Angeles market. Aerio currently serves over 9,000 subscribers across 400 buildings in the greater Los Angeles market. The acquisition closed on September 30, 2020. Brady Adams, former CEO of Optic Access, has been appointed Chief Executive Officer and will be responsible for driving the company’s growth initiatives going forward.

“We are excited for the opportunity to partner with Aerio and build upon the strong foundation in residential and commercial broadband,” said Ryan Carr, Vice President at M/C Partners, “our plan is to reinforce our commitments with our best in class, trusted partners by investing in our products and services while expanding our reach throughout the region.”  

“I greatly appreciate the opportunity to join the Aerio team to grow Aerio’s customer base within the Los Angeles market, as well as, expand both services we provide and geography we serve” said Brady Adams.  

Brian Clark, Managing Partner of M/C Partners added, “Residential and commercial broadband services is a core focus of M/C and one we have extensive experience with from previous investments including Baja Broadband, Zayo and Lightower Networks.  We see Aerio as an attractive investment in a core area of focus with exceptional growth potential.”

With additional capital from M/C, Aerio will look to expand their current geographic presence through existing partnerships, as well as, acquisitions.

About AerioConnect

Based in Los Angeles, Aerio is a leading provider of Internet, Voice and Video services to the greater Los Angeles market. Aerio serves over 400 multi-family and commercial buildings throughout the Los Angeles market.

About M/C Partners

Based in Boston, M/C Partners is a private equity firm focused on small and mid-sized businesses in the communications and technology services sectors. For more than three decades M/C Partners has invested $2.2 billion of capital in over 130 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its eighth fund, partnering with promising companies and empowering strong leaders to accelerate growth, optimize operations, and build long-term value. For more information, visit www.mcpartners.com.

For more information on Aerio, visit us at https://www.aerioconnect.com/.

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.

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2022

AFFILIATED PORTFOLIO

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AccentHealth

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

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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.

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1986

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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.

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2015

AFFILIATED PORTFOLIO

Thrive Networks

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Ascend Technologies
Connectivity Wireless
Edafio Technology Partners
TowerCom