Mereo Networks Secures Strategic Investment for Expansion
PHOENIX, December 8, 2023 (VSNewsNetwork.com) - Mereo Networks, a provider of bulk internet services to multi-dwelling units (MDUs) in the U.S., announced a significant growth investment from a consortium including Macquarie Capital, WaveDivision Capital, and Freedom 3 Capital. The investment, led by Macquarie Capital, is set to bolster Mereo's scaling efforts in its bulk connectivity sector.
Matt Ostrega, CEO of Mereo, expressed the company's future directions, stating, “This investment will allow Mereo to continue building its portfolio in the Sun Belt and Mountain West regions, while accelerating its expansion into the large, addressable, and highly fragmented MDU market across the broader United States.”
Highlighting the strategic nature of the investment, John Pickhaver, Head of Infrastructure and Energy Capital, Americas at Macquarie Capital, remarked, “We believe that Mereo Networks has significant runway for organic and inorganic growth and represents an attractive platform opportunity to service the bulk internet market in the U.S.”
Steve Weed, CEO of WaveDivision Capital, emphasized the collaborative approach, saying, “We are excited to be able to provide capital and expertise to help the Mereo team execute its growth plans.”
Brian Block, Partner at Freedom 3, reflected on the journey and future potential, commenting, “We believed in Mereo’s vision two years ago when we initially invested in the company, which today is an integrated, scalable platform with significant opportunity. Together with the new investor group, we look forward to supporting Mereo’s continued growth.”
The investors unanimously welcomed Kevin Anderson as the new Chairman of the Board. Anderson, with his extensive experience as Founder and CEO of Unite Private Networks, brings valuable insight to Mereo. “Having assembled a strong management team and investor group, Mereo is well-positioned to continue to build the premier MDU service platform and capitalize on growth opportunities across the MDU market,” Anderson stated.
Bank Street Group, LLC and Houlihan Lokey, Inc. served as financial advisors to Mereo during this investment process.
Mereo Networks, headquartered in Phoenix, AZ, provides a diverse array of technology services to high-density residential communities. The company, which currently connects over 46,000 residents, is one of the largest bulk service providers in the U.S., with strategic partnerships in 22 states.
For detailed information, visit www.mereonetworks.com, www.wavedc.com, and www.freedom3.com.
Source: Mereo Networks via Newswire
