Private equity firm M/C Partners says it has made what it termed a “significant growth investment” in celito, a communications and managed services provider based in Raleigh, NC. celito also has added a new CEO.
Founded in 1999, celito leverages its own fiber network to deliver internet, voice, data center, and IT consulting services to businesses in the Raleigh area. The company plans to use the M/C Partners investment to fund expansion of its fiber network and service offerings in Raleigh and beyond.
"I am delighted with the M/C partnership and the new opportunities it will provide celito and our outstanding team," commented Sharat Nagaraj, founder and president of celito. "With their investment, we will confidently grow our business to meet the evolving needs of our clients. The expertise M/C Partners brings to the table will play a crucial role in taking celito to the next level."
"This investment in celito is the perfect combination of our two investment pillars, digital infrastructure and technology services," said Ryan Carr, partner at M/C Partners. "celito’s continually growing fiber network, commitment to exceptional client experience, and deep understanding of the local market are the foundation to create the preeminent service provider in the region."
Meanwhile, Danny Bottoms has joined celito as CEO. “Danny’s experience in successfully scaling fiber businesses and his familiarity with M/C as the CEO of Cavalier Telephone and GTS Central Europe makes him the perfect fit for this role,” stated Gillis Cashman, managing partner at M/C Partners.
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