M/C Partners takes stake in fiber business services provider celito
Private equity firm M/C Partners says it has made what it termed a “significant growth investment” in celito, a communications and managed services provider based in Raleigh, NC. celito also has added a new CEO.
Founded in 1999, celito leverages its own fiber network to deliver internet, voice, data center, and IT consulting services to businesses in the Raleigh area. The company plans to use the M/C Partners investment to fund expansion of its fiber network and service offerings in Raleigh and beyond.
"I am delighted with the M/C partnership and the new opportunities it will provide celito and our outstanding team," commented Sharat Nagaraj, founder and president of celito. "With their investment, we will confidently grow our business to meet the evolving needs of our clients. The expertise M/C Partners brings to the table will play a crucial role in taking celito to the next level."
"This investment in celito is the perfect combination of our two investment pillars, digital infrastructure and technology services," said Ryan Carr, partner at M/C Partners. "celito’s continually growing fiber network, commitment to exceptional client experience, and deep understanding of the local market are the foundation to create the preeminent service provider in the region."
Meanwhile, Danny Bottoms has joined celito as CEO. “Danny’s experience in successfully scaling fiber businesses and his familiarity with M/C as the CEO of Cavalier Telephone and GTS Central Europe makes him the perfect fit for this role,” stated Gillis Cashman, managing partner at M/C Partners.
For related articles, visit the Business Topic Center.
For more information on high-speed transmission systems and suppliers, visit the Lightwave Buyer’s Guide.
To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Datacom/Data Center newsletters.
Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
You can connect with Stephen on LinkedIn as well as Twitter.