M/C Partners Acquires Bel Air Internet, Expanding the AerioConnect Platform in Southern California

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https://www.businesswire.com/news/home/20201222005329/en/MC-Partners-Acquires-Bel-Air-Internet-Expanding-the-AerioConnect-Platform-in-Southern-California

LOS ANGELES, CA., December 21, 2020 (BUSINESS WIRE) – M/C Partners, a Boston-based Communications and Technology Services focused private equity firm, announced the acquisition of Bel Air Internet, LLC (“BAI”), one of the largest privately owned Internet Service Providers to multi-family and commercial clients in Southern California providing services to over 800 buildings in the greater Los Angeles market. BAI will be combined with the recent acquisitions of AerioConnect and Metro Fiber, creating one of the largest ISP’s in the region.

 “The addition of Bel Air and its valued customers and employees to our existing operations is an exciting part of the growth strategy we have embarked upon. The expansion of our team and customer reach in the greater Los Angeles market enhances our ability to deliver high quality and feature rich services throughout the region and beyond. We are very excited to continue to deliver excellence in the services we provide while continuing to expand the geography we serve.” said Brady Adams, CEO of the newly formed, combined entity.  

Terry Koosed, founder of BAI added, “I am excited for the next chapter of BAI and the additional opportunities this acquisition provides for our employees and our customers. Supported by M/C Partners and the wonderful employees at BAI, our customers will continue to receive the premium service they have come to expect.”

“We are extremely excited to accelerate our business plan of establishing the preeminent residential and commercial broadband provider for MDUs in the region through the acquisition of BAI. The BAI team has a long history of providing highly advanced, quality services to some of the most prestigious properties in the market. BAI’s focus on customer service and network density complements our previous acquisitions and aligns us for continued success,” said Ryan Carr, Partner at M/C Partners.

About Bel Air Internet

Based in Los Angeles, BAI is a leading provider of Internet, Voice and Video services for over a decade to the greater Los Angeles market. Bel Air serves over 800 multi-family and commercial buildings throughout the Los Angeles market. Please visit us at www.belairinternet.com

About AerioConnect

Aerio is a leading provider of Internet, Voice and Video services to the greater Los Angeles market. Aerio serves over 500 multi-family and commercial buildings offering customers up to gigabit speed broadband connections throughout its footprint. Please visit us at www.aerioconnect.com

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

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