Broadband is essential because it revolutionizes the way services are provided and business is conducted. The improved communication and flow of information that comes with broadband improves the productivity and profitability of large, small, and home-based businesses. It allows them to compete in local, national and global markets.
Grain is a private investment firm that invests exclusively in the global broadband industry. The firm employs a data-based process buoyed by expertise to identify investment opportunities in key areas of communications that include fiber networks, wireless spectrum, cell towers, infrastructure services and managed services.
Looking to expand in the managed services sector of the global broadband industry, Grain acquired Spectrotel, a next-generation aggregator and integrated technology services provider.
"Grain is a significant investor around the broadband and managed services sector," said Jenny Kashdan, Managing Director at Grain. "We deeply admire the value Spectrotel brings to the marketplace and the exceptional reputation they have built with their customers and partners."
Spectrotel delivers comprehensive solutions to minimize risk, optimize resources and technology, and modernize the enterprise. Knowing that every business is different, Spectrotel selects from various network and technology providers to design and build customized end-to-end solutions for each business.
After experiencing consistent double-digit growth by delivering real choice and expertise in various enabling technologies, Spectrotel came to the conclusion that they needed a way to solidify its success, which prompted them to turn to Grain.
"Grain's position and expertise in the global broadband industry makes them a compelling and quintessential partner for this next phase of Spectrotel's growth," said Ross Artale, President and Chief Operating Officer at Spectrotel. “We can accelerate our growth to reach the next level, bringing tremendous scale, unparalleled products and unrivaled experience to our partners and customers."
Artale is expected to take on the position of CEO.
Citizens Capital Markets served as exclusive financial adviser to Spectrotel, and Alston & Bird and Wachtel Missry served as legal adviser to Grain and Spectrotel, respectively. Financial terms of the transaction are not disclosed.
Grain is a MSP Expo Silver sponsor in Ft. Lauderdale, Florida, Feb. 14-17, 2023. #TECHSUPERSHOW includes nearly a dozen collocated business technology events that bring buyers, users, sellers and partners together under one roof to educate and build business relationships around the technologies driving business success today. Grain will be in Meeting Room 7.
Edited by Alex Passett