M/C Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, M/C Partners has invested in 7 companies.

M/C Partners’ most common sectors for investment arecommunications (63%) and information technology (22%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (40%) and growth capital (32%). In total, M/C Partners has invested in 23 US states and 7 different countries. Its largest (disclosed) acquisition occurred in 2013 when it acquired Lightower Fiber Networks for $2.0B.

In the last 3 years, M/C Partners has exited 4 companies. The Firm’s most common exit type is trade sale (52%). M/C Partners’ largest (disclosed) exit occurred in 2017 when it sold Lightower Fiber Networks for $7.1B.

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M&A Summary

  • M&A Total Activity82
    • M&A Buy Activity51
    • M&A Sell Activity31
  • Total Sectors Invested 5
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 53
  • M&A Advisors 7

M/C Partners

M/C Partners

53 State Street, Suite 2602,
Boston, Massachusetts 02109
United States
(617) 345-7200
www.mcpartners.com
mcp@mcpartners.com

M/C Partners is a private equity and venture capital firm that targets communications, media and information technology companies throughout the US, Canada and Europe. M/C looks to invest $10 to $50 million per transaction and is usually the first institutional investor in its portfolio companies. Areas of interest include cable system operators, wireline communications services, fixed wireless broadband operators, media/content, mobile wireless data software and services and operators, wireless tower operators and on-demand software companies. Prospective transaction types include buyouts, growth capital and seed capital financing. M/C partners was formerly known as Chestnut Street Partners. M/C Partners was founded in 1986. The Firm is based in Boston with additional offices in San Francisco and London.


Investment Criteria

Sectors of Interest: Business Services, Communications, Information Technology, Internet Software and Services, Media, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Stake Purchase, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 10 50
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.8/yr) # 37 7 2 2 1 2 51
vol $2.3B $2.3B
Sell (0.8/yr) # 27 - 3 1 - - 31
vol $19.7B $19.7B
  82

Most Recent M&A

Company Date Value Type
Consortium Networks LLC 2024-01-24 - Growth Capital
Cherry Hill, New Jersey · www.consortium.net
AccessParks 2024-01-19 - Growth Capital
San Diego, California · www.accessparks.com
celito 2023-05-24 - Growth Capital
Raleigh, North Carolina · www.celito.net
C3 Integrated Solutions LLC 2022-11-16 - Growth Capital
Arlington, Virginia · www.c3isit.com
QOS Networks 2022-01-12 - Trade Sale
Irvine, California · www.qosnet.com
Edafio Technology Partners 2022-01-04 - Growth Capital
North Little Rock, Arkansas · www.edafio.com
ark data centers 2021-12-22 - Secondary Sale
Cedar Rapids, Iowa · www.arkdna.com
Zentro 2021-07-14 - Growth Capital
Chicago, Illinois · www.zentrointernet.com
AerioConnect LLC 2021-05-05 - Merger
Newbury Park, California · www.aerioconnect.com
DAS42 LLC 2021-05-04 - Growth Capital
New York, New York · www.das42.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
BAI Connect 2020-12-22 AerioConnect LLC 2021-05-05 1
Sherman Oaks, California · www.baiconnect.com Newbury Park, California · www.aerioconnect.com
Connectivity Wireless Solutions 2019-03-25 Neutral Connect Networks 2019-03-25 1
Duluth, Georgia · www.connectivitywireless.com West Palm Beach, Florida · www.neutralconnect.com

M&A by Sector

Sector Current # Value All-time # Value
Communications 7 (41%) - 32 (63%) 2.1B (91%)
Information Technology 5 (29%) - 11 (22%) 190M (8%)
Internet Software and Services 3 (18%) - 5 (10%) 14M (1%)
Business Services 1 (6%) - 2 (4%) -
Technology Hardware 1 (6%) - 1 (2%) -
Total 17 - 51 $2.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 16 (94%) - 44 (86%) 2.3B (99%)
  Illinois 3 (18%) - 5 (10%) 190M (8%)
  California 2 (12%) - 5 (10%) 23M (1%)
  Texas - - 5 (10%) -
  Virginia 1 (6%) - 4 (8%) -
  Colorado 1 (6%) - 3 (6%) 123M (5%)
  Florida 1 (6%) - 3 (6%) -
  Massachusetts 1 (6%) - 2 (4%) 2.0B (85%)
  New York 1 (6%) - 2 (4%) -
  North Carolina 1 (6%) - 1 (2%) -
  New Jersey 1 (6%) - 1 (2%) -
  Louisiana 1 (6%) - 1 (2%) -
  Georgia 1 (6%) - 1 (2%) -
  Arkansas 1 (6%) - 1 (2%) -
  Washington - - 1 (2%) -
  South Carolina - - 1 (2%) -
  Oregon - - 1 (2%) -
  Ohio - - 1 (2%) -
  New Mexico - - 1 (2%) -
  Missouri - - 1 (2%) -
  Michigan - - 1 (2%) -
  Iowa - - 1 (2%) -
  Hawaii - - 1 (2%) -
Canada 1 (6%) - 2 (4%) -
  Ontario 1 (6%) - 2 (4%) -
United Kingdom - - 1 (2%) 14M (1%)
Malta - - 1 (2%) -
Poland - - 1 (2%) -
Puerto Rico - - 1 (2%) -
Slovakia - - 1 (2%) -
Domestic 16 (94%) - 44 (86%) 2.3B (99%)
Cross-border 1 (6%) - 7 (14%) 14M (1%)
Total 17 - 51 $2.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (29%) - 20 (39%) 160M (7%)
Growth Capital 9 (53%) - 16 (31%) -
Venture - - 6 (12%) -
Divestiture 2 (12%) - 4 (8%) 190M (8%)
Recapitalization - - 1 (2%) 2.0B (85%)
Acquisition Financing - - 1 (2%) -
Consolidation - - 1 (2%) -
Secondary Buyout 1 (6%) - 1 (2%) -
Stake Purchase - - 1 (2%) -
Total 17 - 51 $2.3B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 9 (29%) 10.0B (51%)
Trade Sale 9 (29%) 9.5B (48%)
Secondary Sale 7 (23%) 190M (1%)
IPO 4 (13%) -
Merger 2 (6%) -
Total 31 $19.7B

Top M&A Advisors

Financial Deals
MVP Capital
2
RBC Capital Markets
1
Waller Capital Partners
1
Legal Deals
Choate Hall & Stewart
3
Thompson Hine
1
Goodwin Procter
1

Deal Values

buy # Total
> $1B 1 $2.0B
$100M to $1B 2 $313M
< $100M 2 $37M
TOTAL $2.3B
Largest Lightower Fiber Networks LLC
$2.0B (2013-04-11)
sell # Total
> $1B 4 $16.4B
$100M to $1B 8 $3.1B
< $100M 3 $144M
TOTAL $19.7B
Largest Lightower Fiber Networks LLC
$7.1B (2017-07-18)

M&A Connections

Deals
Acquired from
Investor(s)
2%
1 (2%)
Strategic(s)
8%
4 (8%)
Exited to
Investor(s)
23%
7 (23%)
Strategic(s)
58%
18 (58%)

FAQ

When was M/C Partners founded?

M/C Partners was founded in 1986.

What type of investor is M/C Partners?

M/C Partners is a private equity firm.

Where is M/C Partners headquartered?

M/C Partners is headquartered in Boston, Massachusetts.

How much capital does M/C Partners have under management?

M/C Partners has 2.4B USD under management.

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