M/C Partners has acquired AerioConnect LLC, an internet service provider to multi-family and commercial clients in the greater Los Angeles market. No financial terms were disclosed.
LOS ANGELES–(BUSINESS WIRE)–M/C Partners, a Boston-based Communications and IT Services focused private equity firm, announced the acquisition of AerioConnect, LLC. (“Aerio”), a leading Internet Service Provider to multi-family and commercial clients in the greater Los Angeles market. Aerio currently serves over 9,000 subscribers across 400 buildings in the greater Los Angeles market. The acquisition closed on September 30, 2020. Brady Adams, former CEO of Optic Access, has been appointed Chief Executive Officer and will be responsible for driving the company’s growth initiatives going forward.
“We are excited for the opportunity to partner with Aerio and build upon the strong foundation in residential and commercial broadband,” said Ryan Carr, Vice President at M/C Partners. “Our plan is to reinforce our commitments with our best in class, trusted partners by investing in our products and services while expanding our reach throughout the region.”
“I greatly appreciate the opportunity to join the Aerio team to grow Aerio’s customer base within the Los Angeles market, as well as, expand both services we provide and geography we serve,” said Brady Adams.
Brian Clark, Managing Partner of M/C Partners added, “Residential and commercial broadband services is a core focus of M/C and one we have extensive experience with from previous investments including Baja Broadband, Zayo and Lightower Networks. We see Aerio as an attractive investment in a core area of focus with exceptional growth potential.”
With additional capital from M/C, Aerio will look to expand their current geographic presence through existing partnerships, as well as, acquisitions.
Based in Los Angeles, Aerio is a leading provider of Internet, Voice and Video services to the greater Los Angeles market. Aerio serves over 400 multi-family and commercial buildings throughout the Los Angeles market. For more information, visit 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