Grain Management LLC, an investment firm and solutions provider to the global broadband industry, completes today the acquisition of Spectrotel Inc., a next-generation aggregator and integrated technology services provider.
In conjunction with the close of the acquisition its founder and CEO, Jack Dayan, will retain a minority stake and Ross Artale, Spectrotel’s President and COO will take on the position of CEO.
For more than 27 years Spectrotel experienced consistent double-digit growth by delivering real choice and expertise in a variety of enabling technologies – managed services, connectivity, cloud communications, security and professional services – to provide mid-market and enterprise businesses the most unified and optimal technology mix to foster business growth and transformation.
Based in New Jersey, the company has leveraged its relationships with best-in-class technology providers creating a unified and exceptional experience for some of the top enterprise brands throughout the country.
“Grain’s position and expertise in the global broadband industry makes them a compelling and quintessential partner for this next phase of Spectrotel’s growth,” Artale said. “This opportunity will help solidify our continued success, building on our award-winning suite of technology solutions, expertise, and expansive diverse customer base. With Grain’s experienced team, we can accelerate our growth to reach the next level, bringing tremendous scale, unparalleled products and unrivaled experience to our partners and customers.”
Citizens Capital Markets, Inc. served as exclusive financial advisor to Spectrotel, and Alston & Bird LLP and Wachtel Missry LLP served as legal advisors to Grain and Spectrotel, respectively. Financial terms of the transaction have not been disclosed.
For more information visit www.spectrotel.com or visit www.graingp.com.
