Surf Air Wireless, LLC Completes $40 Million Capital Raise and Acquisition of FreedomNet Wireless to Continue Expansion
LAPORTE, Ind., Jan. 18, 2019 (GLOBE NEWSWIRE) -- Surf Air Wireless, one of the leading broadband providers in the Great Lakes regions, announced today it recently completed a $40 million investment with Post Road Group alongside an acquisition of FreedomNet Wireless.
Surf Air Wireless is founded on the belief that broadband connectivity and access to the internet make our world a better place. From its first wireless network in northwest Indiana, Surf Air Wireless coverage now stretches from just east of the Mississippi River to Ohio. The acquisition of FreedomNet Wireless expands the company’s coverage north to Grand Rapids, Michigan and south past U.S. Highway 30, now providing access to over 30,000 square miles of the Great Lakes region.
“This new capital partnership with Post Road Group will allow us to grow organically and through acquisition, aggressively bringing connectivity and internet access to the rural homeowner, expanding our partnerships with multiple school districts and grow our commercial business,” said Surf Air Wireless CEO, Greg Armstrong. “By harnessing new and improving technologies, whether microwave LTE or fiber, we can bring valuable opportunity to our customers and their workforces.”
MVP Capital Advisors served as the financial advisor to Surf Air Wireless in connection with this transaction.
About Surf Air Wireless, LLC Surf Air Wireless is a fiber optic and fixed wireless broadband provider offering high-speed connectivity for education institutions, commercial organizations and residential customers throughout the Great Lakes Region. The company has doubled in size twice over the last four years through acquisition and attentive care of new and prospective customers.
To learn more, visit www.surfairwireless.net.
About Post Road Group Post Road Group is a privately held, SEC-Registered Investment Advisor based in Stamford, Connecticut. The firm invests equity and debt across various industries, with a focus on real estate, telecommunications infrastructure, media, technology, business services and health care services. For more information, please visit www.postroadgroup.com.
About MVP Capital Advisors, LLC MVP Capital Advisors provides mergers and acquisitions, private debt and equity capital raising, and strategic and valuation advisory services to the telecommunications, media, technology and renewable energy sectors. For more information, please visit www.mvpcapital.com.
Jason Lehman Chief Financial Officer 219-326-5252