Catalyst Investors said Tuesday that it has invested $10 million in Barrett Xplore, which provides 4G wireless and satellite broadband services to rural Canada. Catalyst, of New York, is a PE firm.
Growth private equity firm Catalyst Investors today announced its $10 million equity investment in Barrett Xplore Inc., the leading provider of 4G wireless and satellite broadband services to rural Canada. Barrett plans to use the proceeds of the funding to continue its rapid customer growth and prepare the launch of two next-generation satellites, which will offer significant increases in speed and capacity. Catalyst partner Chris Shipman will join Barrett’s Board of Directors.
“The introduction of 4G wireless broadband services into the rural Canadian marketplace will be a game changer for many of the 2.4 million Canadian households currently overlooked by terrestrial offerings,” said Shipman.
“We are excited to have Catalyst Investors as our new partner, and believe that their extensive wireless industry experience and track record of value creation will be very helpful as we take our company to the next level,” said John Maduri, CEO of Barrett Xplore Inc.
About Barrett Xplore Inc.
Headquartered in Woodstock, New Brunswick, Barrett Xplore Inc. operates Xplornet Internet Services, Canada’s largest rural broadband provider, with customers and dealers in every province and territory. Barrett Xplore aims to bridge the urban/rural divide by ensuring that every Canadian, regardless of where they live, has access to broadband, thereby enabling them to compete effectively in the global economy and gain access to essential government and educational services. For additional information, please visit www.xplornet.com.
About Catalyst Investors
Catalyst Investors is a growth private equity firm founded in 2000. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue and margin growth. The firm works in true partnership with talented management teams to build long-term value and is committed to investor transparency. Past and present Catalyst portfolio companies include Advantage Business Media, Aloha Partners, Aspire Media, Catalyst Repository Systems, Denali Spectrum, InSite Wireless Group, Latisys, MessageLabs, MINDBODY, Nine Systems, TCP Communications and Telemundo. For more information, visit http://www.catalystinvestors.com/.