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 stated, "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." Mr. Koosed added, "We spent a lot of time meeting with all the major Investment Bankers in our niche over the years before we made the decision to sell our company. Throughout that time Derick and his group consulted with us on numerous occasions and we were impressed with their foresight and knowledge of the industry. When we finally did decide to pull the trigger we had our choice of a number of great Investment Bankers to choose from, but TI's commitment to our company over the years combined with their understanding of our company and who we were, led to our decision to go with TI. This decision led us to a success that we only could have imagined a few years ago and we are so happy and pleased with the full team. It was a difficult process (as they often are) and we appreciated their super guidance through it all."
"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 TI Partners
TI Partners is a full service merchant bank focused on the technology, media and telecommunications sectors. Please visit us at www.tipartners.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