NOVA Infrastructure Closes $565 million Fund I

NOVA Infrastructure today announced that it has completed the final close of its NOVA Infrastructure Fund I, raising $565 million. The final close occurred on June 24, 2022, and the Fund received commitments from a diverse group of leading North American and global institutional investors including public and private pension funds, insurance companies, family offices, and asset managers.

“We believe we are building the leading investment firm in North American middle market infrastructure,” said Chris Beall, Founder & Managing Partner of NOVA Infrastructure. “NOVA’s distinctive approach to creating platforms in partnership with entrepreneurial teams will allow us to generate outstanding returns. We appreciate the trust and support of our limited partners and look forward to delivering on our commitments with transparency and integrity.”

NOVA Infrastructure was founded to exclusively focus on value-added, middle market infrastructure investments in North America. The Fund has made six platform investments to-date across its target sectors of environmental services, transportation, energy and energy transition, and communications.

“At NOVA we are committed to being strong partners that deliver capital, operating expertise, and resources to each of our portfolio company partners,” said Founder & Partner Allison Kingsley. “As founder owner operators ourselves, we understand the challenges faced by these entrepreneurs and are uniquely positioned to help them achieve their goals.”

Beall and Kingsley added, “We are very proud to have successfully closed our initial fundraise. Our success is a testament to our exceptional team and their tremendous dedication to NOVA’s goals and values.”

About NOVA Infrastructure

Founded in 2017, NOVA Infrastructure (http://www.novainfra.com) is a value-added, middle market infrastructure investment firm focused on North America. NOVA pairs the best downside protection features of the infrastructure asset class with operationally focused, value-added upside strategies. NOVA targets investments in environmental services, transportation, energy / energy transition, and communication sectors, with a current portfolio of six platform investments including: a vertically integrated waste management platform; a US Flag maritime logistics business; a fixed base operator (FBO) platform; a port-centric storage and logistics platform; and fiber-to-the-home and fixed wireless businesses.

Winston & Strawn LLP acted as Fund counsel and Threadmark Partners Limited as placement agent.

SDC Capital Partners Closes Investment in Smartaira

Consolidated Smart Systems, LLC (dba "Smartaira") announced on May 3rd that funds managed by SDC Capital Partners, LLC ("SDC") recently acquired a majority interest in Smartaira, providing Smartaira with significant capital to fuel its growth and acquisition strategy in the multifamily internet and entertainment industry.

SDC has provided Smartaira, a leading provider of high-speed internet service to the multifamily market, with financial support to close several significant opportunities with nationally recognized multifamily brands and acquire strategic assets, accounts, and technologies from local service providers. SDC has committed up to an additional $100 million to continue the expansion of Smartaira's footprint through organic growth and acquisition.

"The industry reputation, operational expertise, and financial support of SDC allow us to partner with national property owners and management companies to deliver an incredible Managed Wi-Fi experience for residents," said Dan Terheggen, Chief Executive Officer at Smartaira. "This level of service, support, and innovation hasn't been available to these properties through the traditional providers. SDC also champions our acquisition strategy, allowing us to rapidly scale this model and attract the industry's best people."

"We're excited to back Smartaira because of its history in building industry-leading infrastructure and technology that delivers the highest quality broadband service to the multifamily market," said Clinton Karcher, Partner at SDC. "Smartaira's team, infrastructure, and platform are capable of delivering exponential growth in new and existing markets, and we look forward to working with the Smartaira team in support of their continued execution," added SDC Vice President, Victoria Seskin.

Smartaira recently closed two acquisitions with the support of SDC. In Smartaira's first transaction, it acquired the multifamily account portfolio from Just In Time Technology Solutions in Rancho Cucamonga, CA. "Dan and his team are the perfect partners to manage our multifamily portfolio going forward," stated Justin Jones, founder of Just in Time Technology Solutions. "We look forward to introducing Smartaira to our other customers as they require robust internet and Wi-Fi solutions."

In its second transaction, Smartaira acquired the technology, assets, and customer accounts of Blue Rim Networks in Logan, UT, with all Blue Rim employees joining Smartaira in their respective roles. The Blue Rim network operations center (NOC) merged with the Smartaira Smart Desk, increasing the size and capability of the internal support team. Blue Rim's innovative, managed Wi-Fi platform, now branded "Smartaira 360", provides residents and guests with secure, high-performance internet access and simplified Wi-Fi onboarding.

"My goal was to merge with a company that valued the expertise of the Blue Rim team and shared our vision for simplifying multifamily connectivity," noted Darren Child, Founder and CEO of Blue Rim Networks (now serving as VP of Product and Business Development at Smartaira). "Our team has thrived through the integration and is excited about the larger market and growth opportunities that we gained through partnering with Smartaira."

"Rebranding Consolidated Smart Systems to Smartaira at this time is a natural evolution of our legacy, delivering smarter internet solutions and simplifying the customer experience," added Bob Benton, Chief Marketing Officer at Smartaira. "The addition of SDC and the Blue Rim team has set us on a new trajectory. That level of excitement and opportunity deserves a fresh, modern look that will make people notice that we're stronger, smarter, and more confident."

Boston Omaha Corporation Completes the Acquisition of InfoWest, Inc. and Go Fiber LLC

Boston Omaha Corporation, through its wholly owned subsidiary FIF St George, LLC (“FIF St George”), has completed the acquisition of the businesses operated by InfoWest, Inc. (“InfoWest”) and Go Fiber LLC (“Go Fiber”), fiber and fixed wireless internet service providers located in St. George, Utah. The InfoWest and Go Fiber businesses together provide high-speed internet services to over 20,000 customers throughout Southern and Central Utah, Northern Arizona and Moapa Valley, Nevada.

InfoWest Co-Founder and CEO Kelly Nyberg said, “Our partnership with Boston Omaha will dramatically accelerate our fiber expansion within our current markets and into new communities.”

InfoWest and Go Fiber equityholders will collectively have a 20% initial ownership stake in FIF St George, a new entity formed by Boston Omaha for purposes of completing the acquisitions. Boston Omaha intends to make significant additional capital investments to fund FIF St George’s fiber-to-the-home expansion. Key members of the executive team will remain on to continue guiding the company in the next phase of growth.

Co-CEO of Boston Omaha, Adam Peterson added, "The InfoWest and Go Fiber teams have built robust networks capable of scaling within and outside of their current footprints. Additionally, their history of delighting customers by providing exceptional service made these businesses a natural fit into our fiber-to-the-home strategy throughout western rural communities and beyond.”

Boston Omaha’s Fiber is Fast businesses include AireBeam in Arizona, Utah Broadband in northern Utah, InfoWest and Go Fiber in Utah, Arizona and Nevada, and Fiber Fast Homes.

Zayo Group Strengthens Edge and SD-WAN Leadership with Acquisition of QOS Networks

Zayo Group Holdings, Inc., a leading global provider of fiber-based communications solutions, today announced the acquisition of QOS Networks, a leading provider of SD-WAN and edge managed services. This move positions Zayo as a premier provider of secure edge networking services, helping enterprise customers deploy, manage, and monitor their mission-critical SD-WAN and edge network environments.

Edge networks are seeing prolonged, strong growth, driven by users requiring applications to be delivered efficiently and ubiquitously across the enterprise from the edge. Solutions are shifting away from traditional private data center environments to edge and multi-cloud connectivity which enhance user productivity, reduce costs and improve the holistic customer experience. Zayo’s extensive fiber network, coupled with its optical and packet capabilities, is uniquely positioned to power the growth of the network edge and the rapid adoption of 5G and private wireless. These technologies are the critical foundation for distributed, multi-cloud capabilities.

Together, Zayo and QOS will create significant opportunities to leverage relationships with cloud hyperscalers investing in the edge, multi-tenant data centers investing in the core and carriers investing in fiber-to-the-tower (FTT). The combination of Zayo and QOS provides enterprise CIOs high quality network services with global reach, real-time control and visibility, and consistent security at every network endpoint.

“This acquisition represents our commitment to, and investment in, our edge-to-core, edge-to-cloud and edge-to-edge network services portfolio,” said Brian Lillie, Chief Product and Technology Officer at Zayo. “We are extremely well-positioned to be a leading provider of networking for the evolving edge at all layers – fiber, optical and packet – and for all players – enterprises, hyperscalers and carriers. This requires secure, software-defined intelligent network control, management and monitoring capabilities that our customers need in a highly dispersed, multi-cloud world.”

QOS Networks, founded in 2012, is the leading, independent managed service provider of SD-WAN solutions that help companies through digital transformation. QOS Networks provides enterprise-class SD-WAN hardware and software solutions, including VMWare’s VeloCloud solution, Versa and Palo Alto’s Prisma. QOS provides the world's best quality of service using a powerful AIops driven platform to empower IT teams and lines of business to be highly productive with complete solutions from edge-to-cloud. QOS Networks has deployed over 45,000 SD-WAN edge devices to large enterprises globally. As a division of Zayo, the QOS brand will be retained and will continue leading the industry.

“Joining forces with Zayo will bring our leading SD-WAN solutions into their already robust portfolio of communications infrastructure solutions,” said Frank Cittadino, CEO of QOS Networks. “Combining our end-to-end enterprise SD-WAN solutions and whiteglove services with Zayo’s best-in-class fiber and network expertise will allow us to unlock unique value for our customers in the software-defined layer. On behalf of everyone at QOS Networks we are excited for our next chapter with Zayo and we look forward to driving new solutions for our customers.”

For more information about Zayo, please visit https://go.zayo.com/qos-networks.

Carlyle to Acquire, Expand Data Center Company Involta

Global investment firm Carlyle announced that funds managed by Carlyle have agreed to acquire Involta, a data center company focused on hybrid IT and cloud infrastructure, including data center colocation, hybrid cloud, edge, fiber, and related products.

Carlyle will acquire Involta from M/C Partners. The transaction is expected to close in the first quarter of 2022 and is subject to the satisfaction of customary closing conditions. Financial details were not disclosed.

Involta owns and operates 12 data center facilities and an in-house 12,000+ fiber-mile network. These assets, paired with strategic infrastructure services, provide mission-critical IT solutions to businesses across the United States. Carlyle's capital, resources, and expertise will help expand Involta's operations, which today are located primarily in the Midwest as well as the Pacific Northwest and Southwestern U.S., helping grow its capabilities for both new and existing customers.

Joshua Pang, Head of Digital Infrastructure for Carlyle's Infrastructure Group, said, "Involta has built a world-class platform with a demonstrated operating model for delivering high-quality service to customers in an increasingly complex, hybrid cloud-based world. We see significant opportunity for growth given the long-term secular demand drivers of data proliferation, digital connectivity, and the digitization of enterprise and institutional operating models. We look forward to a strong, long-term partnership and to leveraging Carlyle's scale, resources, and access to capital to drive sustainable growth at Involta."

Pooja Goyal, Chief Investment Officer of Carlyle's Infrastructure Group, said, "This investment is consistent with our strategy of partnering with best-in-class businesses positioned for continued growth in the digital infrastructure space. Digital infrastructure is a key sector focus for our platform and we will continue to grow our portfolio with both high growth opportunities as well as stabilized assets."

Bruce Lehrman, Founder and CEO of Involta, said, "We are thrilled to work with Carlyle's proven investment team as we build on our national market leadership and support our customers' growing digital infrastructure requirements. We see many logical opportunities to continue expanding Involta's footprint and infrastructure, and look forward to leveraging Carlyle's global resources and deep expertise to further accelerate our growth momentum."

This transaction supports Carlyle's growth in infrastructure investing, which includes investments in infrastructure companies supporting the digital economy. Earlier this year, Carlyle acquired Wyyerd Group, a leading regional fiber-to-home platform in the Southwestern United States, and recently completed an add-on fiber acquisition for that platform in December 2021.

Great Plains Communications Completes Acquisition of USA Communications

Great Plains Communications (GPC), a Midwestern telecommunications provider with a growing, privately-owned 13,500+ mile fiber network touching 13 states, backed by Grain Management, LLC (Grain), announced today that it has completed the acquisition of USA Communications, a growth-oriented provider headquartered in Kearney, Nebraska.

“We are excited to announce the acquisition of this impressive company founded by Chris Hilliard that has been focused on growth and technology advancement in the communities it serves since 1995,” said Todd Foje, CEO of Great Plains Communications. “The USA Communications fiber footprint is a positive addition to our current network and will allow us to reach more business and residential customers in thriving areas of Nebraska and Colorado. In addition, we will work with our partners at Grain Management to identify future areas for targeted GPC expansion that result from these new fiber assets as we continue on our path of growth to bring fiber-driven services to as many areas as possible and to contribute to the nation’s fiber-for-all initiatives.” 

USA Communications was founded by Hilliard to meet the growing demand for fiber in central Nebraska and Colorado. The company provides fiber-driven services including managed Ethernet, high-speed internet, streaming video and voice to its residential and business customer base. With the acquisition now closed, GPC will initially focus on enhancing and building out the USA Communications network to bring fiber-driven services to more businesses and homes in Kearney, Grand Island and other Nebraska communities.

Mr. Hilliard, CEO of USA Communications had this to say: “As with any family, there are stages in life where, with great excitement, inner nervousness and perhaps even a little fear we must take a step to continue to grow. It is time for me to hand off the baton to our industry leading teammates at Great Plains Communications. I am excited and confident that they will extend USA’s current market leading role in all its communities. Godspeed!”

“We are delighted to welcome USA Communications to the Great Plains Communications family,” said Chad Crank, Managing Director at Grain. “With this extended fiber footprint, we look forward to driving and accelerating GPC’s growth and innovation in fiber services and quality.”

The companies entered into a definitive agreement in the third quarter of 2021. The acquisition was officially completed on September 30 following the completion of all regulatory approvals. Financial terms of the transaction have not been disclosed.

Boston Omaha Corporation Launches Internet Service Provider Fiber Fast Homes, LLC

Boston Omaha Corporation announces the launch of its internet service provider subsidiary, Fiber Fast Homes. Scott Sampson has been appointed as CEO.

“Reliable high-speed internet is critical to daily life. It’s simple - consumers want a solid network and accessible support,” said Mr. Sampson. “Fiber Fast Homes delivers a far superior alternative to traditional providers – all in terms of customer focus, network quality, and dependability. At the end of the day, we strive to put the service back into customer service.”

In partnership with builders and developers, Fiber Fast Homes provides Fiber-to-the-Home Internet service directly to homes at Gig speeds. This enables the consumers to engage remote learning, work and other applications that require high bandwidth, low latency connectivity.

Fiber Fast Homes Concierge team will directly assist every resident with personal one-on-one assistance. The Concierge will help with understanding the service, Wi-Fi configurations and navigating the massive streaming TV services. The homeowner will be walked through a comprehensive screening to determine the best streaming service to fit their personal and family needs, to work on whatever devices they use, Roku. Fire Stick, Apple TV, or any other device.

Fiber Fast Homes, LLC (“Fiber Fast Homes”) represents Boston Omaha Corporation’s commitment to delivering reliable high-speed fiber internet and white glove service directly to residents. 

• What they do: Fiber Fast Homes partners with builders, developers, and built-to-rent communities to build fiber-to-the-home infrastructure and provide fiber internet service to residents.

• Why it matters: Today’s new home buyers demand fast internet service to keep up with their home office, smart home, and entertainment needs. Fiber Fast Homes provides best in class technology paired with white-glove service, starting with infrastructure build through everyday customer support. Additionally, customer service and support are managed from move-in through move-out with white-glove concierge services.

• Who they serve: For builders and developers who are interested in offering fiber internet service under their own brand name, Fiber Fast Homes offers white label opportunities.

About Boston Omaha Corporation

Boston Omaha Corporation is a public holding company with three majority owned businesses engaged in outdoor advertising, surety insurance and broadband telecommunications services. The Company also maintains minority investments in a bank, a national residential homebuilder, commercial real estate services businesses and Yellowstone Acquisition Company.

About Fiber Fast Homes

Fiber Fast Homes is a fiber-to-the-home internet service company that serves new home communities and built-to-rent communities with fiber internet services at Gig speeds. The company is led by CEO Scott Sampson, a seasoned telecom professional.

Moorgate Completes Sale of Telescope to Bally’s

Moorgate Capital Partners, LLC (“Moorgate”), a middle market merchant bank focused on the technology, media, and communications industries, is pleased to announce the sale of one of its portfolio companies, Telescope Inc., the leading provider of real-time fan engagement solutions for live events, gamified second screen experiences and interactive livestreams, to Bally’s Corporation.

Telescope’s first-in-class products and services will amplify the Bally’s Interactive, Bally Bet and Bally Sports brands, enabling viewers and players to have an integrated experience that allows them to engage on a multitude of platforms and channels, including online and offline. By delivering customized and interactive content, as well as deeply engaging social experiences, Telescope will connect with Bally’s customers in innovative ways, providing opportunities for Bally’s to attract a younger demographic and augment its loyal customer base. In addition, Telescope provides industry-leading voting solutions via social, online and SMS; sweepstakes, and contests to rewards fans; content creation services; live streaming with custom graphics for all mediums; and campaign management tools that optimize audience engagement.

Adi Dhandhania, Senior Vice President of Strategy and Interactive for Bally’s Corporation, said, “We are excited to integrate Telescope and its innovative audience engagement products into Bally’s growing and diversified portfolio of interactive assets. Mobile technology continues to play an increasingly significant role and Telescope brings an expert level of creativity, innovation, and effectiveness in the social and digital media space that we are confident will enhance our customers’ interactivity and engagement with our products. We look forward to working alongside the Telescope team to not only strengthen the business, but also develop new engagement tools that we can leverage across our expanding media and digital footprint.”

“It was a pleasure to work with the team at Moorgate.  Not only did they partner with us to find our equity partner H.I.G., but they also co-invested and provided real leadership and insight while on our board,” commented Telescope Executive Chairman Jason George.

Telescope powers immersive mass-scale participation initiatives across any digital device with record-breaking results, delivering numerous 'firsts' in the industry. Telescope holds six Guinness Book of World Records, and has won 39 Shorty Awards, four Clio Awards, and a handful of Emmy nominations. Telescope was also honored to be named the 2021 Agency of the Year (Mid-Sized) by Shorty Awards.

 About Moorgate Capital Partners, LLC

Moorgate Capital Partners is an independent merchant banking and advisory firm that looks to partner with industry leading executives and management teams to source and acquire middle market growth companies in the technology, media, and communications industries.  Additionally, Moorgate provides independent, trusted advisory services and outsourced corporate development to a focused group of clients.  Moorgate has offices in San Francisco and New York City.  For more information, visit www.MoorgatePartners.com.

About Telescope Inc.

Telescope Inc. is the leading provider of real-time fan engagement solutions for live events, gamified second screen experiences and interactive livestreams. Backed by over 19 years of experience and unique expertise, Telescope is trusted by the world’s largest entertainment and sports media properties, social platforms, and leading Fortune 500 brands. The company recognizes clients’ distinct needs and pairs them with the best solution via a wide range of products and capabilities, to ensure that they connect to their audiences in innovative ways by delivering relevant, interactive content and deeply engaging social experiences. For more information, visit www.telescope.tv.

Bank Street serves as financial advisor to KKR in connection with its recent agreement with Telefónica Colombia

Bank Street was pleased to highlight its role as financial advisor to KKR in connection with its agreement with Telefónica Colombia to establish Colombia’s first independent nationwide open access wholesale digital infrastructure company in a transaction valued at approximately $500 million. With the investment from KKR, the new company plans to expand existing fiber optic coverage from approximately 1.2 million homes today to at least 4.3 million homes by the end of 2024, covering at least 87 municipal areas in Colombia with more than half consisting of underserved areas outside of high-income urban areas.

“We are thrilled to, once again, be working with Telefónica to provide greater broadband access to those who need it, and to be doing so in Colombia, a country we believe is primed for significant growth ahead and which serves as an attractive destination for investors," commented Waldemar Szlezak, Managing Director on KKR’s Infrastructure investment team. "This new venture in Colombia, along with ON*NET Fibra de Chile, demonstrates the potential to invest in innovative financing and growth strategies to promote digital infrastructure in Latin America.”

KKR will acquire a majority stake in Telefónica Columbia's fiber optic network and make the network open access through a newly established independent entity, KKR will control as the majority shareholder. Telefónica will be a minority shareholder in the new company with a 40% stake. The company will be run independently by a local team in Colombia but brings together the expertise of both KKR and Telefónica to build and operate Colombia’s premier digital infrastructure network. Recently, the companies similarly joined efforts to establish ON*NET Fibra as Chile’s first open access wholesale fiber optic network.

Bank Street provides insightful and objective advice to help its corporate and institutional clients achieve their financial and strategic goals. They are a private investment banking firm primarily serving growth companies in the communications, media and technology sectors with a comprehensive array of services, including Merger & Acquisition Advisory, Debt and Equity Capital Markets, and Restructuring Solutions. For further information on this transaction or about Bank Street, please visit www.bankstreet.com.

M/C Partners Announces Significant Growth Capital Investment in Everywhere Wireless

M/C’s investment will accelerate Everywhere Wireless’ next stage of growth and innovation, as it continues to take market share from Comcast, AT&T and the other Chicagoland incumbents.

BOSTON, MA July 14, 2021 - A Boston-based communications and technology focused private equity firm announced an investment in Everywhere Wireless, one of the largest private Internet Service Providers to multi-family and commercial clients in Chicago and its suburbs. The company provides Internet connectivity to over 60,000 active users and nearly 800 buildings, including some of the most iconic properties in Chicago.

“The company’s unrelenting focus on customer experience and network quality is best in class in Chicago, and we believe Everywhere Wireless’ continued success will change the competitive landscape in the region.”

“We’ve grown significantly over the past few years and adding M/C as our partner will bolster this growth while ensuring every customer continues to have an exceptional experience as we continue to scale,” said Keegan Bonebrake, Founder and CEO. Bonebrake added, “We are excited for this next chapter of Everywhere Wireless as this capital will allow us to pursue additional growth opportunities including regional expansion, expanded product offerings and potential acquisitions. With the support and experience that M/C brings to the table, we will have the opportunity to change the way even more people experience and interact with their Internet Service Provider. We are thankful to our incredible Chicago-based team and the consistent support we have received from devoted development partners, property managers, and customers.”

Everywhere Wireless is aggressively expanding into new markets. The company recently expanded into several Chicago suburbs, including Naperville, Schaumburg, Arlington Heights, Elmhurst, Oak Park, Evanston, Itasca, among others. “The M/C investment will allow us to increase hiring and further invest in our network and products, to continue to improve the overall consumer experience,” Bonebrake said.

Ryan Carr, Partner at M/C Partners commented, “The investment in Everywhere Wireless is an exciting partnership with one of the fastest growing and highest rated Internet providers in the country. We are thrilled to collaborate with the Everywhere Wireless team and accelerate their efforts to establish the preeminent residential and commercial broadband provider in the region.”

Brian Clark, Managing Partner at M/C Partners, added, “The company’s unrelenting focus on customer experience and network quality is best in class in Chicago, and we believe Everywhere Wireless’ continued success will change the competitive landscape in the region.”

About Everywhere Wireless

Since its launch in 2012, Everywhere Wireless has grown to become the leading provider of Gigabit Internet to multi-family buildings and businesses across Chicagoland. The Internet-only company offers access to revolutionary, lightning-fast Internet speeds alongside unparalleled reliability, ensuring uninterrupted viewing of streaming services. As the largest independent Internet service provider of Gigabit speeds, the company works with leading brands, including Nike, Google, Amazon, and the Art Institute of Chicago, as well as the leading commercial and residential property developers and managers throughout Chicagoland.

The company has been named Chicago’s Best Overall Internet Service Provider for three consecutive years and guarantees a 99.99% uptime to its customers. Using innovative fixed wireless and microwave technology, the company is able to deliver residential Internet speeds of up to 2,000 Mbps (2 Gigabits) and business speeds up to 10,000 Mbps (10 Gigabits).