Financial Backing From Titan Grove With Continued Support To Provide Full Suite of Services, Including Project Financing
SAN FRANCISCO, CA – September 12, 2017 – NextEdge Networks and Modus have finalized the merger of their two companies to create a full turn-key provider of services and infrastructure solutions to enable the deployment of the next generation of wireless infrastructure. The combined company has become the recognized expert in the burgeoning field of small cell and DAS deployments, having jointly designed, permitted and executed over 4,000 node deployments across 40+ states. Such deployments have also included over 3,500 fiber to cell installations, the 1st micro cell deployment, the 1stwestern US small cell installation, the 1st US 5G deployment and numerous high-profile DAS installations.
NextEdge Networks is led by long time leaders in the development, deployment and ownership of wireless infrastructure over the last twenty years.
- Doug Wiest, CEO, was formerly CEO of LightTower, COO of American Tower, EVP of EdgeConnex and held executive positions at Nextel.
- Chris Maguire, CFO, was formerly CFO of Golden State Towers, EVP of American Tower and has held CFO and strategic consulting positions across the wireless, radio and renewable energy fields
- Chad Abbott, Erik Corkery and Ryan Crowley, who founded Modus in 2005, will become EVP’s of the new entity and continue to lead the services activities of NextEdge Networks. They bring over twenty years of experience working with major wireless carriers and OEM’s in siting and deploying multiple generations of wireless infrastructure.
The company will provide a range of services and project financing solutions, focusing on small cell deployments including cutting edge site acquisition and jurisdictional partnerships, construction and construction management, program management, fiber deployment, in-building DAS and small cell installations and maintenance.
Doug Wiest, CEO, said, “The rapid growth of data usage is causing increasing demands on our wireless infrastructure and wireless providers which require innovative solutions aligning the interests of all stakeholders. Our combined capabilities, as well as our experience and success in the most difficult of jurisdictions, allow us to partner with wireless carriers, municipalities and business owners to create long term alignment to address the impending need of network densification.”
The Modus Founders said “The combination of Modus with NextEdge Networks, along with the financial backing from Titan Grove, is a natural evolution of the rapid growth of Modus. Our combined capabilities and access to capital will allow us to expand our breadth and reach to further support our customers expansion plans”
NextEdge, which will continue to be headquartered in San Francisco, was founded in November 2016 when Titan Grove purchased the small cell assets of EdgeConnex. Scott Troeller, Partner at Titan Grove, said, “We founded NextEdge Networks to provide solutions we felt were missing to enable the next generation of wireless infrastructure to flourish. In less than a year, we have established a significant platform of end-to-end capabilities and expertise allowing us to complete deployments with speed and quality few can match”. Troeller further added, “Our unique funding structure and access to capital combined with the talents of our deep management team will bring creative solutions needed to improve the quality and speed of wireless communications both in-building and outdoors.”
The company has been organized as our nation’s first wireless infrastructure Benefit Corporation (“B Corp”), which enables the board of directors to pursue a mission that will have a positive impact on society, the environment, team members, business partners, and shareholders. “Wireless networks are the critical backbone which will empower smartcities and smartbuildings, and we are delighted to have an extraordinary executive team focused on growing the company as a highly innovative, mission driven B Corp”, stated Jeffrey Tannenbaum, Chairman.
For more information about NextEdge Networks, visit www.nextedgenetworks.com.
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About NextEdge Networks: NextEdge provides innovative solutions and capital for the deployment of wireless infrastructure, related fiber transport and data aggregation. As a strategic partner to wireless providers and building owners, NextEdge facilitates upgrades and deployment of wireless infrastructure which supports the next generation of wireless services. Our solutions seek to create a long term value proposition for all parties which are mindful of rapidly developing technology and the need to continually evolve as data usage and applications expand over time. www.nextedgenetworks.com
About Modus Services: Founded in 2005, Modus has been a leader in wireless infrastructure site acquisition, construction and turnkey deployments, completing extensive work on behalf of all the major wireless carriers as their needs have evolved. Modus maintains a full suite of services, including self-performance of construction and last-mile fiber provisioning, allowing for control and accountability of every step of the deployment process. Modus have become the leading expert on small cell deployments, having executed over 2,000 small cell and DAS nodes in the last two years alone. www.modus-corp.com
About Titan Grove Holdings: Titan Grove is the family office of Jeffrey Tannenbaum, the founder of Fir Tree Partners, a 25 year old multi-strategy fund known for its innovation in hybrid private-public type investing strategies. Titan Grove’s capital is permanent, allowing it to pursue investments and long term business building without the typical constraints of traditional private equity. Titan Grove strives to invest in businesses which provide services and products that enhance society and the quality of people’s lives. Indicative of Titan Grove’s strategy, is sPower, which it founded with Fir Tree and built into the largest solar utility in the US in less than four years until its recent sale to AES and AIMCO for $1.6 billion. www.titangrove.com
About Benefit Corporation: A new legal tool to create a solid foundation for long term mission alignment and value creation. http://benefitcorp.net/