M/C Partners Completes Investment in TowerCom

May 12, 2020

M/C Partners Completes Investment in TowerCom

BOSTON–(BUSINESS WIRE)–M/C Partners, a Boston-based communications and technology services-focused private equity firm, announced today that it has closed on an equity investment in TowerCom, LLC, a Jacksonville, FL-based communications tower developer. M/C’s initial investment and additional future commitment will allow TowerCom to continue to execute on its robust new tower build plan on behalf of national and regional wireless carriers.

“Our exceptional team of operating partners and the strength of our go-to-market approach, coupled with this latest round of funding from M/C, positions us well to capitalize on our platform to drive our next phase of growth.”

“As wireless carriers expand their 5G footprints and nationwide coverage with mid and high band spectrum, the industry, and TowerCom, should see strong colocation prospects in the coming years,” said Rad Lovett, Chairman and Chief Executive Officer of TowerCom. “Our exceptional team of operating partners and the strength of our go-to-market approach, coupled with this latest round of funding from M/C, positions us well to capitalize on our platform to drive our next phase of growth.”

“With its experienced team, long track record of building and operating towers across the country, and strong carrier relationships, TowerCom is well-positioned to continue its recent momentum and make an even bigger impact in this space,” said Brian Clark, Managing Partner at M/C Partners. “Our investment in TowerCom gives us the unique opportunity to partner with a proven tower developer that brings visibility into a scaled portfolio of towers as carriers ramp up spending on their 5G deployments in a critical investment cycle for the wireless communications industry.”

Abhishek Rampuria, Vice President at M/C Partners, added, “Our investment in TowerCom builds on M/C’s long and successful heritage of investing in the wireless industry. The TowerCom team has built a best-in-class tower development platform and we are excited to begin this partnership and support the next chapter in the TowerCom story.”

As TowerCom’s primary financial investor, M/C Partners will contribute its extensive experience in the communications and technology services markets. M/C has been a leading investor in this sector for more than three decades, having previously invested in Lightower, Zayo, MetroPCS, Connectivity Wireless and others. Legal counsel for M/C Partners was provided by Sidley Austin LLP and Fox Rothschild LLP.

About TowerCom

TowerCom is a Jacksonville, FL-based communications tower developer executing new tower builds on behalf of carrier customers primarily in the Southeast and Southwest US. TowerCom has established itself as a major regional tower developer with deep relationships with both national and regional wireless carriers. TowerCom is responsible for the end-to-end tower development process, taking carrier input on target locations and coverage needs and then executing site acquisition, permitting / zoning, construction, and operational support. The company is led by a veteran management team that has experience in all phases of tower infrastructure development, deployment and management. For more information, visit www.towercomenterprises.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.

Contacts

Media Contact
David Olson
Executive Vice President, TowerCom
dolson@towercomenterprises.com

View source version here: https://www.businesswire.com/news/home/20200512005117/en/MC-Partners-Completes-Investment-TowerCom

Zack Halpryn

Zack Halpryn is an Associate at M|C Partners, where he focuses on investment opportunities in the digital infrastructure and technology services sectors. Prior to joining MC, Zack worked at HarbourVest Partners, where he was focused on buyout and growth equity investments. Previously he worked at Performance Equity Management and Credit Suisse. Zack received a B.B.A in Finance (summa cum laude) from the Isenberg School of Management at UMass Amherst. He currently lives in Boston’s West End and in his spare time enjoys playing sports (volleyball, basketball, golf), reading and watching the Celtics.

Joined

2023

AFFILIATED PORTFOLIO

AccessParks
Ascend Technologies
Carbon60
Denovo
TowerCom

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BOARD POSITIONS

celito

Established in 1999 and based in Raleigh, is a trusted, local communications and managed services provider to businesses leveraging its fully owned fiber network. celito creates technology solutions for businesses across all sectors both large and small. From supplying high-speed Internet service, to providing quality VoIP telecom service, to setting up your office network, they offer turnkey solutions from the desktop to the cloud

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GSC

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Jason P. Stutman

Jason Stutman is a Senior Fund Accountant at M/C Partners, responsible for the cash management of co-investment vehicles, preparing quarterly financial statements, and communication with Limited Partners. Prior to joining the firm in 2023, Jason worked in the Portfolio Analytics Group at HarbourVest Partners. He earned a BSBA with honors in Finance with a minor in Computer Information Science from The Ohio State University. Jason lives in South Boston and enjoys cheering on Boston sports teams, playing hockey and golf and traveling.

Joined

2023

AFFILIATED PORTFOLIO

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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

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Ascend Technologies
Consortium Networks
C3 Integrated Solutions
SoniqWave

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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JWW

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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 Chairman, 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), 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

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

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BOARD POSITIONS

Ascend Technologies
Connectivity Wireless
Edafio Technology Partners
TowerCom