DALLAS & CLEVELAND--(BUSINESS WIRE)--Align Capital Partners (“ACP”) announced today the acquisition of ISPN Network Services (“ISPN” or the “Company”), a managed IT services provider primarily serving broadband fiber and internet operators in suburban and rural areas across the country. The Company’s services include premium technical support, network monitoring and managed hosting services. ISPN CEO Jeff Neblett and President & CFO Scott Lauber will continue leading the firm through its next phase of growth.
Jeff and Scott acquired ISPN in 2020, during a period of rapidly evolving customer demand for high-speed internet. “A growing number of people in the U.S. now require fast internet for their jobs, streaming content and adding connected devices in their home. ISPN provides industry-specific outsourced support and managed network services, allowing internet providers to focus on customer satisfaction and network expansion,” said Jeff Neblett.
“The need for fast and reliable internet service and support has only increased since our initial investment, and we decided this was the right time for ISPN to find a strategic growth partner to further enhance our suite of services,” added Scott Lauber. Today, the Company has over 180 employees with operations in Lenexa, Kansas and Cary, North Carolina.
The investment in ISPN fits ACP’s thematic focus on the natural outsourcing trends within IT services, particularly in vertical end-markets where technology adoption is lagging. “I applaud Jeff and Scott for recognizing early on that ISPN had the right building blocks to support several dynamic trends happening within rural broadband,” said ACP Partner Matt Iodice. “ISPN is uniquely positioned to help clients navigate the complexities of technical support by pairing talented industry professionals with unique client-facing technology,” said ACP Partner Matt Iodice.
Similar to the Company’s 2023 acquisition of iGLASS Networks, ISPN will continue M&A with an initial focus on expanding service lines within broadband fiber to meet all customer outsourcing needs. Chris Jones, Joe Eazor, Dave Modi and Sarah Mahosky worked alongside Mr. Iodice on the transaction. Align Capital Partners was advised by McGuireWoods and ISPN was advised by Stephens Inc. and Alston & Bird.
About ISPN Network Services
Founded in 1994, ISPN helps leaders of community-focused broadband service providers elevate the customer experience and achieve growth through customer-driven, reliable and innovative 24x7 support and managed IT solutions. By utilizing ISPN's vertically focused technical support, network operations center services and email hosting, broadband fiber organizations can achieve economies of scale through the Company’s resources and expertise. For more information, visit ispn.net.
About Align Capital Partners
Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $1.7 billion in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees and the firm’s investors. ACP makes control investments in differentiated companies within the business services, technology, specialty manufacturing and distribution sectors. For more information, visit aligncp.com.
Disclosures: This press release is not an offer to sell securities or interests in any fund managed by ACP. The statements quoted above were made by persons who are not clients of ACP and they have not received compensation for the above statements. These statements are solely their opinion and representative of their experience with ACP.
Contacts
Katie Noggle
216-505-6463
knoggle@aligncp.com
