Atlantic Street Capital said Tuesday that it has sold A Wireless to Lone Star Funds. Financial terms weren’t announced. Greenville, North Carolina-based A Wireless is a wireless retailer that markets and sells products and services from over 600 stores in 31 states. William Blair provided financial advice while Morrison Cohen acted as the legal advisor to A Wireless.
STAMFORD, CT, January 19, 2016 – Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced today the sale of A Wireless, a reseller agent of wireless voice and data communications services, to an affiliate of Lone Star Funds.
Headquartered in Greenville, NC, A Wireless (formerly Z Wireless) is a full service wireless retailer that markets and sells a full suite of products and services from over 600 stores in 31 states.
Andy Wilkins, Managing Partner of Atlantic Street Capital, said, “Our investment in A Wireless was a fantastic success and we are very proud of what we accomplished over the last four years. We combined the passion and vision of two entrepreneurial founders, Kevin Tupy and Richard Balot, with the best management within the wireless retail industry led by Bryan Bevin. The operational excellence Bryan brought to the table allowed us to grow the business at a very high rate from a small regional retailer to a full national player.”
Bryan Bevin, Chief Executive Officer of A Wireless, said, “Whilst A Wireless had a strong but regional presence in the market place four years ago, partnering with Atlantic Street afforded us the ability to attract and assemble a world class management team. Leveraging the resources, insight and ‘value add’ of Atlantic Street in concert with the A Wireless team has been terrifically successful, allowing us to support our customer facing employees to deliver industry leading service and satisfaction. The outputs of that have enabled us to confidently and diligently scale the business, and greatly accelerate the company’s growth into a national player.”
William Blair served as exclusive financial advisor in connection with the sale, and Morrison Cohen acted as the legal advisor to A Wireless.
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in middle market companies with between $25 and $150 million in revenue. The firm invests in fundamentally sound companies that will benefit from capital investment and value-adding strategic and operational initiatives. Atlantic Street Capital’s partners are hands-on investors who work closely with management to unlock their business’ underlying value and help them succeed. The firm is currently investing from Atlantic Street Capital Partners, L.P. II. For more information, visit www.atlanticstreetcapital.com.