January 15, 2015
MSouth Closes the Acquisition of Source Broadband Services, LLC
Atlanta, GA (January 15, 2015) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the closing of its newest investment. In partnership with management, MSouth completed the acquisition of Source Broadband Services.
Source Broadband Services, headquartered in Norcross, GA, is a leading provider of installation, maintenance, repair and construction services for wireline and wireless cable and telecommunications providers. The Company serves as a prime contractor to several blue-chip customers with principal service markets in Georgia, Alabama, Tennessee and southern California. Due to the Company's strong position in the markets it serves, Source Broadband Services is well positioned to address the increased need for communications infrastructure, which has been driven by heightened demand for wired and mobile broadband data consumption.
Barry Boniface, an MSouth Partner, said, "We are excited about our investment in Source Broadband Services. The management team has built a scalable platform and has focused on solidifying strong customer relationships, which is evidenced by the Company's attractive revenue growth as well as its position as a leading prime contractor for the customers and markets it serves. We look forward to partnering with this management team and continuing to grow the business."
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued $25 - $150 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, distribution and specialty manufacturing companies. With more than $700 million under management in two active funds, MSouth is a successor to Cravey, Green & Wahlen, Inc. which was founded in 1984.