NEW YORK--(BUSINESS WIRE)--Growth equity firm Catalyst Investors today announced a follow-on investment in portfolio company InSite Wireless Group, LLC, owner, operator and manager of wireless communication tower site facilities and distributed antenna systems (DAS) across the United States, Puerto Rico, and the U.S. Virgin Islands. The new investment comes following an investment by Cox Enterprises, Inc.
Catalyst Investors’ relationship with the InSite team began more than 10 years ago when Catalyst founders worked with InSite management’s predecessor company, Mountain Union Telecom. Catalyst made an initial investment in InSite in January 2010 and a follow-on investment in April 2011. Catalyst partners Chris Shipman and Todd Clapp have served on InSite’s Board of Directors since 2010 and Clapp will continue to do so.
“This transaction is a great opportunity for InSite. With the additional investment from Catalyst, InSite Towers has increased its capacity to continue expanding steadily through additional tower development and acquisition, and it will realize substantial value from the future lease-up of the combined tower portfolio,” said Clapp.
About Catalyst Investors
Catalyst Investors is a growth private equity firm founded in 2000. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue and margin growth. The firm works in true partnership with talented management teams to build long-term value and is committed to investor transparency. Past and present Catalyst portfolio companies include Advantage Business Media; Aloha Partners – acquired by AT&T (NYSE:T); Aspire Media; Catalyst Repository Systems; Denali Spectrum – acquired by Leap Wireless (NASDAQ: LEAP); InSite Wireless Group; Latisys; MessageLabs – acquired by Symantec (NASDAQ:SYMC); MediaMath; MINDBODY; Nine Systems – acquired by Akamai Technologies (NASDAQ:AKAM); TCP Communications; Telemundo – acquired by NBC (NYSE:GE); WeddingWire; and Xplornet. For more information, visit http://www.catalystinvestors.com.
About InSite Wireless Group, LLC
InSite Wireless Group, LLC develops, owns, and operates communications wireless infrastructure facilities primarily for the wireless and broadcast industries. Established by the founders of Mountain Union Telecom LLC, InSite Wireless Group began in December 2000 as InSite Wireless, LLC, a company focusing on the in-building segment of wireless infrastructure. The company built and launched its first DAS at the Moscone Center in San Francisco in 2001, and has developed and operates additional DAS projects in convention centers, hotels and casinos, airports, sports stadiums, and transit systems like the MBTA Boston subway system. In 2006, InSite Wireless Group was formed as the parent organization to InSite Wireless, LLC, and the tower division – InSite Towers, LLC – was created. Today InSite Towers is one of the top 10 U.S. tower companies (as ranked by RCR Wireless) and develops, manages, owns, and operates more than 600 telecommunications towers and sites for wireless carriers across the United States, Puerto Rico, and the U.S. Virgin Islands. More information on InSite's business can be found at www.insitewireless.com.