Brightwood Capital Advisors, a private credit firm, and PhenixFIN, a publicly traded business development company, provided debt and equity financing to support CCP Capital Strategies’ acquisition of 100%of Wireless Maritime Services (WMS) stock from AT&T and Anuvu.
Formed in 2005 and headquartered in Miramar, FL, WMS provides maritime cellular networks enabling secure, high-performance connectivity at sea. WMS’ existing management team will continue to lead to the business, which will now operate as an independent platform.
“We are pleased to partner with PhenixFIN to provide a customized financing solution in support of CCP’s acquisition of Wireless Maritime Services especially given their success in the technology and telecommunications sector, which is a core market where we see continued growth opportunity,” Sengal Selassie, CEO and managing partner at Brightwood, said. “Brightwood’s broad capabilities to serve borrowers across various stages of their business’s life cycle is an essential aspect of our investment strategy. Wireless Maritime Services has been an industry leader for over 15 years, and we look forward to their continued success, further bolstered by growth in consumer data consumption.”
“We are highly impressed by the WMS team, their strong expertise, and impressive growth story. We are excited to have the opportunity to partner with WMS, Brightwood, and CCP to help WMS grow its customer base and offer consumers more choices to stay connected while they are traveling,” David Lorber, CEO at PhenixFIN, said.
“Brightwood and PhenixFIN were great partners, demonstrating tremendous flexibility throughout all phases of the acquisition,” David Collier, managing partner at CCP, said. “Their insights during diligence were invaluable and we look forward to growing WMS together with them.”
