IBBS Announces New CEO

IBBS, a provider of voice, data and network services for mid-market cable and broadband providers, has appointed telecommunications executive Michael Gallagher as CEO and as a member of the board of directors. Gallagher takes over from Dave Keil who will step down on January 1, 2012. Mid-market private equity firm Pamlico Capital is the majority shareholder in IBBS.

PRESS RELEASE

IBBS, the leading provider of voice, data and network services for mid-market cable and broadband providers, today announced that seasoned telecommunications executive Michael Gallagher will join IBBS as the company’s new CEO and as a member of the Board of Directors. Gallagher takes over the role from Dave Keil who will officially step down on January 1, 2012.

“IBBS has more than doubled its customer base and grown revenue by nearly 100 percent in the past three years. We look ahead to an era of continued growth and expanding our portfolio of services for our broadband provider customers. Michael brings the right skill set, deep technology experience and an entrepreneurial spirit to lead this company into the future,” said L. Watts Hamrick, managing partner at Pamlico Capital, IBBS’ majority shareholder. “Michael’s track record of leading similarly sized companies through expansion while executing on a strategic plan to seize new opportunities reaffirms that he’s the right executive at the right time to advance IBBS.”

“I’m excited to lead IBBS at this phase of the company’s growth,” said Gallagher. “In the time that I’ve spent with the team and studying operations, it’s clear we have a great group of people, a solid base of customers and a well-rounded portfolio of products. We have a strong foundation from which to build and take our operations to the next level.”

To support a smooth transition for employees, IBBS customers and partners, Keil and Gallagher will work together through the month with the official handoff of CEO duties to Gallagher occurring on January 2, 2012.

About Michael Gallagher

Gallagher has more than 25 years of experience in managing and growing telecommunications companies. He brings an exceptional ability to operate complex entities and formulate strategic direction. From 1998 to 2007, he was the founding CEO of FDN Communications which was acquired by Pamlico Capital portfolio company Nuvox Communications. Gallagher also co-founded and ran the Texas-based Metro Access Networks (MAN) which built more than 300 metro fiber route miles in the Dallas/Ft. Worth, Austin, San Antonio and Houston markets. Early in his career, Gallagher spent time in direct sales, selling data or metro fiber networks to Fortune 1000 customers. He also spent time at Williams Telecommunications (Wiltel) and Intermedia Communications. Gallagher currently serves on the Board of Directors at C&D Technologies and acts as a Board Advisor to Global One.

About IBBS

IBBS provides fully-integrated data, voice and technical support services to broadband providers to simplify their delivery of advanced communications into residential and commercial markets. The company’s technology and expert approach provides an unmatched customer experience and measurable ROI for the providers it serves. More than 250 IBBS customers leverage the award-winning proprietary BBX operational support system to launch services and seize marketplace opportunities while relying on the company’s NOC, engineering team and world-class Technical Support Center to drive profitability and delight end users. For its business vision and market success, IBBS was named one of Georgia’s ‘Fast 40’ Growing Companies and was included in Inc. 5000’s 2011 list of America’s fastest-growing private companies. IBBS is headquartered in Kennesaw, Ga. outside of Atlanta with regional offices in Vancouver, Canada; Lexington and Louisville, Ky.; and Cartersville, Ga.

About Pamlico Capital

Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies. Pamlico Capital seeks growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries, which include business & technology services, communications, and healthcare. The firm, based in Charlotte, NC, currently manages over $2 billion in committed capital.