Astra Partners invested in Communication Technology Services, which provides wireless infrastructure services. Terms of the deal were not disclosed. Astra made the investment from its first fund, which invests in growth businesses in the communications and technology services sectors.
Correction: A prior version of this report misspelled Communication Technology Services in the headline. The report has been updated.
Communication Technology Services (CTS), a U.S. provider of wireless infrastructure services, has received an equity investment from Astra Partners I, the flagship fund of Astra Capital Management (Astra), a private equity firm that invests in growth businesses in the communications and technology services sectors. Terms of the transaction were not released.
Established in 1990 and based in Marlborough, MA, CTS provides a range of critical wireless products and services, including the design, installation and operation of in-building wireless networks and technology. CTS enables mobility for millions of IoT devices, sports fans, travelers, students and workers to access secure wireless networks at thousands of major stadiums, airports, factories, hospitals, high-rises, campuses and enterprises across North America.
CTS Chief Executive Officer John Tegan III said, “The mobility industry is shifting, and cellular coverage within buildings and large facilities is becoming mission-critical. This investment from Astra allows CTS to continue to scale and strengthens our leadership position in the mobility marketplace. This will better enable us to assist our customers in navigating these ever-changing and evolving technological advances, while also accelerating the development of new service offerings related to the emergence of private wireless networks.”
Astra Co-Founder and Managing Partner, Mark Johnson, noted, “This partnership makes superb strategic sense and will help CTS achieve the next level of innovation and growth. We are proud to back John and his team as the company becomes an even stronger vendor, partner and customer.”
About Communication Technology Services
Communication Technology Services, known in the industry as CTS, is the industry leader and a trusted integrator for all major wireless service providers, having successfully deployed over 9,000 distributed antenna systems nationwide. With almost three decades of history, CTS is designing, building, managing, servicing and consulting on DAS projects, large and small, across all vertical markets nationwide. Building upon its robust experience and knowledge in general contracting, project management and structured cabling, CTS has evolved into the premier provider of services for the wireless industry including DAS, wireless LAN, and private network/small cell solutions integrating public safety, commercial cellular and other wireless technologies to provide world-class communication systems.
About Astra Capital Management
Astra Capital is a Washington, DC-based, private equity firm that invests in growth businesses in the communications and technology services sectors. Astra targets highly scalable companies with proven business models that have positive free cash flow and significant growth potential. Post investment, Astra works closely with managers to drive value creation through strategic repositioning, revenue growth and operational enhancements. www.astracapitalmgmt.com
Statements included herein may constitute “forward-looking statements”, which relate to future events, the future performance, or financial condition of CTS following the investment by Astra Capital Management. These statements are not guarantees of future performance, conditions, or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors.