M/C Partners Makes Significant Growth Investment in celito
To drive expansion of fiber network and service offerings for business clients
Boston, MA and Raleigh, NC: May 24, 2023 – M/C Partners, a leading private equity firm focused on the digital infrastructure and technology services sectors, is excited to announce a significant growth investment in celito. The company, established in 1999 and based in Raleigh, is a trusted, local communications and managed services provider to businesses leveraging its fully owned fiber network.
The investment marks an important milestone in celito’s journey as it accelerates its expansion plans. The partnership continues M/C’s commitment to investing in promising companies to drive growth and build long-term value. The investment will provide celito with the necessary resources and capital to expand its fiber network and service offerings in Raleigh and beyond.
“I am delighted with the M/C partnership and the new opportunities it will provide celito and our outstanding team,” said Sharat Nagaraj, Founder and President. “With their investment, we will confidently grow our business to meet the evolving needs of our clients. The expertise M/C Partners brings to the table will play a crucial role in taking celito to the next level.”
“This investment in celito is the perfect combination of our two investment pillars, digital infrastructure and technology services,” said Ryan Carr, Partner at M/C Partners. “celito’s continually growing fiber network, commitment to exceptional client experience, and deep understanding of the local market are the foundation to create the preeminent service provider in the region.”
Sharat will work alongside Danny Bottoms who has joined celito as CEO. Danny is a telecommunications industry veteran who has led several private equity backed companies. “Danny’s experience in successfully scaling fiber businesses and his familiarity with M/C as the CEO of Cavalier Telephone and GTS Central Europe makes him the perfect fit for this role” said Gillis Cashman, Managing Partner at M/C Partners.
The partnership between M/C Partners and celito represents a shared vision to drive innovation, empower businesses, and contribute to the vibrant growth of the North Carolina business community. The same values and dedication to community that brought the company to this extraordinary milestone will continue to guide the future growth of celito.
About M/C Partners:
M/C Partners is a private equity firm focused on small and mid-size businesses in the digital infrastructure and technology services sectors. For more than three decades M/C Partners has invested $2.4 billion of capital in over 140 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its ninth fund, partnering with promising companies and leadership teams to support, scale, and improve operations and maximize value. For more information, please visit https://mcpartners.com/
About celito:
celito, established in 1999, is a communications and managed service provider serving businesses in the Raleigh, North Carolina region. Leveraging an owned fiber network, we elevate clients from the desktop to the cloud with our internet, voice, data center and IT consulting services. Through its commitment to exceptional client experience and strong community presence, celito empowers businesses with reliable and scalable solutions. For more information, please visit https://celito.net/
Media Contact: Erika Corey / celito / (919) 852-1238 / ecorey@celito.net