Investment Expected to Support Ongoing Organic and Acquisition Growth
Single Digits Inc. announced today that it has been acquired by GI Partners, a leading private equity firm.
Founded in 2003 and headquartered in Bedford, NH, Single Digits provides secure managed wireless network solutions. The company’s broadband authentication software platform allows property owners to tailor their wireless internet access to the specific needs of their guests and residents and is complemented by a full suite of service offerings, including upfront network design and installation, real-time network monitoring, and 24×7 call center support. Single Digits currently serves over 1,600 customers across the hospitality, student housing, MDU, transportation, and other end markets.
“We look forward to our partnership with GI Partners to continue to grow the company, both organically and through acquisitions,” commented Bob Goldstein, the company’s co-founder and CEO. “We see numerous exciting growth avenues to expand the breadth of the company’s relationships and product offerings, and we look forward to accelerating those initiatives and leveraging GI Partners’ expertise in technology infrastructure, property management, and software as we enter our next chapter of growth.”
“We are confident that under the ownership of GI Partners, Single Digits will continue to deliver the highest quality customer service and industry-leading technology to our customers. We are now positioned to make new investments that will create scale, broaden our range of services, and enhance our current technology offerings,” added co-founder and President Stephen Singlar.
GI Partners’ acquisition of Single Digits builds on the firm’s extensive track record of investing in technology infrastructure and services. “Secure network management is an increasingly critical service to building owners and operators,” said David Mace, Managing Director at GI Partners. “Single Digits has developed lasting relationships with leading hospitality brands and technology vendors to provide a software platform and full suite of services that improve the user experience. Single Digits’ reputation as an industry leader in hospitality and student housing is well established and the company is positioned to continue to grow and innovate as customers’ technology needs evolve. We are excited to work with management to continue growing the business over the coming years.”
Single Digits represents the sixth platform investment in GI Partners Fund V, a $2.8 billion private equity fund raised in 2017. As part of the transaction, Bregal Sagemount, a leading growth equity firm, will exit its investment in Single Digits. “We are excited by the momentum that the Single Digits team has built over the past few years, particularly on new product development and market expansion,” said Daniel Kim, founding Partner at Bregal Sagemount. “We look forward to following their continued success in partnership with GI Partners in the years to come.”
Paul Hastings LLP acted as legal counsel to GI Partners. SunTrust Robinson Humphrey, Inc. provided financial advice and Goodwin Procter LLP provided legal advice to Single Digits.
About Single Digits
Single Digits is a leading provider of High-Speed Internet Access management and support solutions. The company offers a complete guest internet solution, including components of IP network design, engineering, professional services, ongoing maintenance, networking monitoring, multi-lingual support, revenue reporting and authentication tracking. For more information, please visit www.singledigits.com.
About GI Partners
GI Partners is a private investment firm based in San Francisco. The firm has raised over $17 billion in capital from leading institutional investors across the globe. GI Partners’ private equity team focuses on investments in the IT Infrastructure, Healthcare, Software, and Services sectors. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with $1.7 billion in committed capital. Founded in 2012, the firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests up to $150 million per transaction into both control and non-control positions and will make equity and/or debt investments. Targeted sectors include digital infrastructure, software, healthcare IT services, business and consumer services, and financial technology/specialty finance. For more information, please visit www.sagemount.com.
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Media Contacts:
For Single Digits - Chris Tofalli
Chris Tofalli Public Relations LLC
914-834-4334
chris@tofallipr.com
For GI Partners - Gretchen Robinson
GI Partners Investor Relations
(415) 688-4866
GRobinson@gipartners.com
