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).
Airwavz Solutions is a telecommunications infrastructure company serving both the commercial real estate industry and the major wireless carriers by providing innovative in-building wireless solutions. Airwavz designs, installs, owns and operates wireless infrastructure inside commercial office and hospitality buildings in dense metropolitan areas, ensuring building tenants and guests receive exceptional cellular service while also ensuring wireless carriers can improve coverage and increase capacity throughout their networks. Commercial real estate owners should expect higher rent and improved vacancy, while wireless carriers enjoy a higher performing network in places people congregate for work every day. It’s what we call Building Mobility®. To learn more visit www.airwavz.com.
Pamlico Capital is a private equity firm founded in 1988 that primarily invests in growing middle-market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $125 million alongside founders and proven management teams in its target industries; business & technology services, communications, and healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $3 billion. For additional information, please visit http://www.pamlicocapital.com.