Airwavz Takes on Growth Partner with Investment from Pamlico Capital
Pamlico Capital ("Pamlico") announced that it has made a growth equity investment in Airwavz Solutions, Inc. ("Airwavz" or the "Company"), a provider of in-building wireless infrastructure. Terms of the transaction were not disclosed.
Headquartered in Charlotte, NC, Airwavz owns and operates wireless infrastructure inside commercial office and hospitality buildings in dense metropolitan areas. The Company’s solutions provide building tenants and guests with exceptional cellular service while also allowing wireless carriers to improve coverage and increase network capacity.
"Amidst the continued explosion in mobile data consumption, in-building wireless coverage and capacity challenges are increasing. The partnership with Pamlico will allow us to accelerate the execution of our vision to solve these challenges for commercial building owners, tenants, and wireless carriers,” said Brad Davis, CEO of Airwavz. “We are excited to have the support of the Pamlico team and the benefit of their experience in the communications infrastructure sector.”
“Pamlico is pleased to partner with the Airwavz team to accelerate the Company's growth and innovation," said Walker Simmons, Pamlico Partner. "We believe in-building is a next frontier of wireless network expansion, creating a highly attractive market opportunity that Airwavz is uniquely positioned to capture through its innovative solutions, novel business model, and seasoned management team.”
Airwavz was represented by Citizens Capital Markets (financial advisor) and Wyrick Robbins Yates & Ponton LLP (legal advisor). Pamlico Capital was represented by Alston & Bird LLP (legal advisor).
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: business & technology services, communications, and healthcare. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.