Linc.net, Inc. is one of the nation's largest providers of end-to-end network infrastructure services.
Industry Characteristics
GPI identified the network infrastructure services industry as a large, rapidly growing, fragmented industry. Growth was being fueled by demand for bandwidth and a continued trend to outsourcing. The industry was also undergoing a structural change in that the largest clients were seeking to work with fewer and larger vendors. At the time, there was no true turn-key provider of solutions to the telecom and cable industries.
Manager
GPI conducted an aggressive manager search, wherein we contacted 17 candidates with related industry P&L responsibility. GPI recruited Ismael "Issy" Perera, the highest ranking operating executive at the industry's largest publicly-traded company. Issy's accomplishments included being part of a management team that generated a four-fold increase in stock price over a six-year period.
Equity Capital
GPI partnered Issy Perera with Banc One Venture Partners, Saunders Karp & Megrue, and Carlisle Enterprises LLC to form Linc.net. These premier private equity groups committed over $125 million of equity to fund the strategy.
Acquisitions
GPI researched over 1,250 companies, of which over 400 met Linc.net's initial acquisition criteria. We conducted an aggressive acquisition search and identified over 125 owners interested in discussing a sale of their business. We prioritized those companies and visited over 50 businesses in the first 18 months. GPI advised Linc.net on ten acquisitions that covered each of the Company's targeted business segments. As a result, Linc.net became the first full-service provider of high-quality network infrastructure services and the sixth largest company in the industry with revenues of over $500 million.