Bregal Sagemount has made a majority investment in Single Digits, a provider of high speed internet access management software and managed services to the hospitality, healthcare, education, transportation, retail, and office verticals. The investment by Bregal Sagemount includes capital to fund add-on acquisitions and organic growth initiatives.
Single Digits’ services allow public venues, such as hotels, arenas, malls, and transportation hubs, to provide secure, high reliability, fast broadband access to their guests and customers. “High quality, hassle-free data connectivity is critical to the customer experience for hotels and other public venues,” said Daniel Kim, Founding Partner of Bregal Sagemount. “The Single Digits team is world class and is poised to build on its established market leadership position organically and through acquisitions.”
Single Digits’ core software services – the Broadband Authentication Platform – includes IP network design and deployment, real time network monitoring, 24×7 live customer support, and network optimization/network access control technology. Single Digits is based in Bedford, NH (www.singledigits.com).
Sagemount made the investment alongside Single Digits’ founders, Chief Executive Officer Robert Goldstein and President Stephen Singlar. “We are excited to formally begin our partnership with the Bregal Sagemount team, whom we have had the pleasure of knowing for several years,” said Mr. Goldstein. “The new investment will allow Single Digits to invest in new product enhancements to stay ahead of our clients’ needs and continue to be the provider and acquirer of choice in the high speed Internet access space.”
Bregal Sagemount makes control and non-control investments of $25 million to $150 million in companies active in the following sectors: software, digital infrastructure, healthcare IT and services, business and consumer services, financial technology and specialty finance. Earlier this month, Bregal Sagemount held a first and final close of Bregal Sagemount II, LP, at the fund’s hard cap with total commitments of $960 million. The new fund was oversubscribed and exceeded the original $800 million target. Bregal Sagemount is based in New York (www.bregalsagemount.com).
© 2017 Private Equity Professional | February 14, 2017
