BOCA RATON, Fla.–(BUSINESS WIRE)–Connectivity Wireless, an M|C Partners backed platform and leading provider of in-building wireless solutions, today announced it has successfully secured a $110 million senior debt facility with an additional $30 million available at a later date led by First Citizens Bank. In addition, the company received a $60 million growth investment led by Post Road Group, with participation from Boundary Street Capital, further strengthening its financial position and fueling its continued venue network growth.
This strategic financing will enable Connectivity Wireless to accelerate the deployment of its cutting-edge in-building wireless infrastructure solutions, enhance operational capabilities, and support the increasing demand for high-performance connectivity across various industries, including sports/entertainment arenas, healthcare, commercial real estate, education, and hospitality.
“We are thrilled to have the support of First Citizens Bank, Post Road Group, and Boundary Street Capital as we continue our mission to deliver best-in-class wireless solutions,” said Paul McGinn, Chief Executive Officer of Connectivity Wireless. “This capital infusion will allow us to expand our reach, invest in new premier venue networks, and better serve our customers in an increasingly connected world.”
First Citizens Bank structured the senior credit facility to provide Connectivity Wireless with the flexibility needed to scale its operations and drive strategic growth initiatives. “Connectivity Wireless has established itself as a leader in the in-building wireless infrastructure space, and we are pleased to partner with them on this next phase of growth,” said Roger Fong, a managing director for the Technology, Media and Telecommunications Finance business at First Citizens Bank.
The senior debt facility led by First Citizens Bank also included meaningful participations by CIBC Bank USA, Third Coast Bank, and Axiom Bank NA.
