M&A Deal Summary

M/C Partners Acquires Connectivity Wireless Solutions

On March 25, 2019, private equity firm M/C Partners acquired communications company Connectivity Wireless Solutions from Salem Investment Partners

Acquisition Highlights
  • This is M/C Partners’ 25th transaction in the Communications sector.
  • This is M/C Partners’ 30th transaction in the United States.
  • This is M/C Partners’ 1st transaction in Georgia.

M&A Deal Summary
Date 2019-03-25
Target Connectivity Wireless Solutions
Sector Communications
Buyer(s) M/C Partners
Sellers(s) Salem Investment Partners
Deal Type Secondary Buyout

Target

Connectivity Wireless Solutions

Duluth, Georgia, United States
Connectivity Wireless Solutions is a provider of wireless solutions to enterprise and wireless service provider customers throughout the U.S. Connectivity Wireless offers highly valued solutions to wireless carriers along with advanced, scalable wireless networks to building owners who understand the importance of creating the best possible wireless experience for their customers today and in the future. Connectivity Wireless Solutions was established in 2008 and is based in Duluth, Georgia.

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Buyer(S) 1

Buyer

M/C Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 2.4B USD
Size Large
Type Sector Focused
DESCRIPTION

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.

DEAL STATS #
Overall 37 of 51
Sector (Communications) 25 of 31
Type (Secondary Buyout) 1 of 1
State (Georgia) 1 of 1
Country (United States) 30 of 44
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-25 Neutral Connect Networks

West Palm Beach, Florida, United States

Neutral Connect Networks is an independent owner and operator of wireless communications infrastructure. Neutral Connect Networks primary focus is building and operating multi-carrier neutral host DAS and small cell networks in venues and buildings throughout North America. Neutral Connect Networks was established in 2011 and is headquartered in West Palm Beach, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Ascend Technologies

Chicago, Illinois, United States

Ascend Technologies is a run-of-the-mill managed services provider that helps business leaders make IT investments with confidence, eliminates cybersecurity threats, meets the needs of the business, and optimizes user productivity. Businesses endure, grow, and innovate on a foundation of efficiently run core IT systems. Ascend makes technology the catalyst for business expansion. Ascend Technologies was founded in 2020 and is based in Chicago, Illinois.

Buy -

Seller(S) 1

SELLER

Salem Investment Partners

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Salem Investment Partners specializes in debt and equity investments in privately-held, middle-market businesses across the Southeast and Mid-Atlantic regions of the US. Salem looks to invest $2 to $10 million per transaction to help support growth, acquisitions, recapitalizations, and buyouts. Sectors of interest include business services, light manufacturing, consumer products, and distribution. Salem Investment Partners was formed in 1999 and is based in Greensboro, North Carolina.

DEAL STATS #
Overall 5 of 10
Sector (Communications) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Georgia) 1 of 1
Country (United States) 5 of 10
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Spaulding Clinical

West Bend, Wisconsin, United States

Spaulding Clinical is a clinical pharmacology unit, cardiac core lab, and a medical device manufacturer. Spaulding Clinical was established in 2007 and is based in West Bend, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-24 Heritage Sportswear

Hebron, Ohio, United States

Heritage Sportswear is a distributor of imprintable sportswear, apparel, headwear, and accessories to the promotional products market. Heritage Sportswear was founded in 1982 and is based in Hebron, Ohio.

Sell -
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