Connectivity Wireless – an M|C Partners backed platform and leading provider of in-building wireless solutions – announced it has successfully secured a $110 million senior debt facility with an additional $30 million available at a later date led by First Citizens Bank. In addition, the company received a $60 million growth investment led by Post Road Group, with participation from Boundary Street Capital, further strengthening its financial position and fueling its continued venue network growth.
This strategic funding will enable Connectivity Wireless to accelerate the deployment of its cutting-edge in-building wireless infrastructure solutions, enhance operational capabilities, and support the increasing demand for high-performance connectivity across various industries, including sports/entertainment arenas, healthcare, commercial real estate, education, and hospitality.
First Citizens Bank, a leading financial institution known for supporting high-growth companies, had structured the senior credit facility to provide Connectivity Wireless with the flexibility needed to scale its operations and drive strategic growth initiatives.
The senior debt facility led by First Citizens Bank also included meaningful participation by CIBC Bank USA, Third Coast Bank, and Axiom Bank NA. Post Road Group, an alternative investment advisory firm with a Corporate strategy focused on growing businesses that provide critical telecommunication and connectivity solutions, led the $60 million growth investment.
The use of proceeds includes funding for system expansion as well as repayment of existing debt.
KEY QUOTES:
“We are thrilled to have the support of First Citizens Bank, Post Road Group, and Boundary Street Capital as we continue our mission to deliver best-in-class wireless solutions. This capital infusion will allow us to expand our reach, invest in new premier venue networks, and better serve our customers in an increasingly connected world.”
- Paul McGinn, Chief Executive Officer of Connectivity Wireless
“Connectivity Wireless has established itself as a leader in the in-building wireless infrastructure space, and we are pleased to partner with them on this next phase of growth.”
- Roger Fong, a managing director for the Technology, Media and Telecommunications Finance business at First Citizens Bank
“We see tremendous opportunities in the in-building wireless infrastructure market, and Connectivity Wireless is well-positioned to capitalize on them. Our investment reflects our confidence in their leadership team, strong track record in the market, and ability to meet the ever-growing demand for seamless in-building connectivity.”
- Gardner Horan, Managing Director at Post Road Group
“This financing marks an important milestone in the life of the company. With this funding, Connectivity Wireless has the capital needed to support years of future growth as it expands its venue footprint and strengthens its market position as a trusted provider of connectivity solutions.”
- Brian Clark, Managing Partner of M|C Partners
