July 11th, 2024 – CriticalPoint is pleased to announce that it served as exclusive financial advisor to Lux Speed Inc (“Lux Speed”) in connection with its sale to Smartaira, a portfolio company of SDC Capital Partners (“SDC”).
Florida-based multifamily internet service provider Lux Speed has been acquired by Smartaira, a leader in fiber-based, community-wide internet solutions. The transaction significantly expands Smartaira’s footprint in the Southeastern United States and adds a marquee customer list of homeowner-association, condo-association, and multi-tenant rental properties to its portfolio. Lux Speed is Smartaira’s fourth acquisition since 2021.
“We couldn’t be more excited to welcome Lux Speed’s subscribers and employees to Smartaira,” said Darren Rish, Smartaira’s CEO. “Lux Speed built great customer relationships on the foundation of best-in-class infrastructure and high-quality customer service, which are the key tenets underpinning Smartaira’s business. We look forward to expanding the relationship with Lux Speed’s customers and building off of the momentum that Lux Speed has achieved in the Southeast.”
Lux Speed Founder and CEO, Michael Bertamini, added, “We have been watching the success and growth of Smartaira for some time now and are impressed with Smartaira’s executive leadership, quality of service offerings, and commitment to its customers in the multi-tenant space. We are certain that our customers, both old and new, will receive the same first-class service and support from Smartaira and I personally look forward to working with the Smartaira team on the go forward.” said Bertamini.
“We enjoyed working with the Lux Speed team and Anacostia Ventures, on another successful deal,” said Nick Cipiti, Managing Director. “Michael and his team built a great business and have established a strong presence in the Southeast that we are excited to see grow in partnership with Smartaira.”
About Lux Speed
Lux Speed’s global distribution network features deep, dense metro networks in key markets across the US, Canada and Western Europe. We founded the company on the basic principle that everyone deserves reliable, high-speed internet, without the exhausting excuses. We are the gold standard for internet services for the multi-family communities. Thus, the name “Lux” – Latin for “light” or better known as Lux Speed! To learn more visit, https://luxspeed.io/
About Smartaira
Smartaira is a national, independent internet service provider that is dedicated to providing multi-Gigabit, symmetrical internet speeds to customers across the multi-tenant space. Smartaira’s broadband solutions include both fiber internet and Managed Wi-Fi deployments built on best-in-class infrastructure and technology. With a full suite of telecommunications services, Smartaira deployments are custom-tailored to meet the needs of customers, property owners, and property management. With operations in 26 states, Smartaira is able to service distributed property portfolios of any size, offering property owners and managers a turnkey internet solution that outperforms legacy network operators. To see all that Smartaira can offer, visit www.smartaira.com.
CriticalPoint served as the exclusive financial advisor to Lux Speed in connection with the transaction. The transaction demonstrates CriticalPoint’s expertise in middle market advisory and commitment to act as a trusted advisor with proven abilities to deliver for its clients.
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About CriticalPoint
Headquartered in Los Angeles, CriticalPoint is a leading full-service financial M&A firm that uniquely combines the best of investment banking, private capital, and valuation service offerings. CriticalPoint executes, sources, and invests in deals across a wide variety of industries for the traditionally underserved middle market. Since our founding in 2012, our mission has been to serve the needs of owners, entrepreneurs, management teams, and stakeholders with our experience, knowledge, and expert judgment, to help them realize their companies’ greatest potential. From our deep-rooted foundation in private equity and investment banking, and our devotion to deal origination and business development, combined with being entrepreneurs at heart, we believe we are differentiated and well positioned to help companies wherever they are in their life cycle.
