Vicente Capital Partners Invests in iBwaveOctober 22, 2013
The growth equity investment firm and Farol Asset Management have acquired a significant equity interest in the in-building wireless software and training services provider.
LOS ANGELES, CA /Marketwired/ -- Vicente Capital Partners (VCP), a leading growth equity investment firm, is proud to announce that its Growth Equity Fund, jointly with Farol Asset Management LP, acquired a significant equity interest in iBwave Solutions Inc., a global standard for in-building wireless software and training solutions. This new relationship will be key to continuing iBwave's rapid growth and expansion into new markets.
Headquartered in Montreal, Canada, iBwave has experienced consistent and significant growth since its 2003 launch. The company's vision has been one of an interdependent ecosystem of wireless operators, system integrators, and equipment manufacturers, all sharing information on a standard platform and working closely together toward the higher goal of providing 100% reliable mobile service inside buildings. Now with over 500 clients worldwide, including all of the tier-1 wireless operators in North America, iBwave is the recognized standard for in-building wireless network design software and certification programs.
"The iBwave team has a dynamic and contagious spirit—a clear indicator as to why they have achieved so much in so little time," says Klaus Koch, Managing Partner of Vicente Capital Partners. "With ten years of demonstrated excellence in the in-building wireless industry, we are confident that this new relationship will help the iBwave team achieve new levels of growth."
"We are very enthusiastic to begin this new partnership with Vicente Capital Partners, who share our vision of continuing to standardize indoor wireless network design globally," says Mario Bouchard, President and CEO of iBwave. "iBwave has been growing steadily and organically throughout the past ten years; this investment will allow us to jumpstart the next ten years, as well as enable us to expand our offering with new products and in new markets."
Klaus Koch of Vicente Capital Partners and Krishnan Ramaswami, who is an Advisor to the Vicente fund, will join iBwave's existing board of directors.
iBwave Solutions Inc., the global in-building standard, serves over 500 leading telecommunication firms in more than 80 countries worldwide, with innovative indoor wireless solutions. Its leading software suite empowers operators, system integrators, and OEMs to provide optimum network coverage and capacity inside buildings, where 80 percent of all wireless traffic occurs, while also boosting efficiency and productivity through the in-building project value chain. iBwave also offers quality hands-on training and certification programs, instilling awareness and proficiency in in-building wireless network design.
Vicente Capital Partners (VCP) is a private equity firm specializing in both noncontrol and control investments in growth businesses that have annual revenues between $5 million and $50 million. The firm's investment professionals have a long and successful track record of partnering with management teams to create and realize value across a number of different industries, including business services (outsourced services, Internet services, telecom services), consumer Services (healthcare services, residential delivery, education), and specialty manufacturing (aerospace and defense, environmental products, networking/telecom equipment). Current investments include SMT, VXi Corp., Campus Explorer, and MedBridge Healthcare. Prior investments include Overture, Rent.com, Cogent Communications, Sensor Systems, Transoft Networks, LivHome, and O2 Science, among others.
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