Grain Management Announces Acquisition of Spectrotel
Acquisition expands Grain’s activity in the managed services sector of the global broadband industry
WASHINGTON, D.C. (January 19, 2023) – Grain Management, LLC (“Grain”), investment firm and solutions provider to the global broadband industry, announced today that it has completed its acquisition of Spectrotel, Inc. (“Spectrotel” or the “Company”), next-generation aggregator and leading 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 over 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 unique, 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,” said Mr. Artale. “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.”
“Grain is a significant investor around the broadband and managed services sector, and we could not be more excited to be taking this step with the Spectrotel team,” said Jenny Kashdan, Managing Director at Grain. “We deeply admire the value Spectrotel brings to the marketplace and the exceptional reputation they have built with their customers and partners, and we look forward to supporting their continued growth as a leader in their space.”
Citizens Capital Markets, Inc. served as exclusive financial advisor to Spectrotel, and Alston & Bird LLP and Wachtel Missry LLP served as legal advisor to Grain and Spectrotel, respectively. Financial terms of the transaction have not been disclosed.
As the Next Generation Aggregator, Spectrotel is uniquely positioned to address the IT challenges of today and tomorrow. Leveraging their expansive relationships with best-in-class technology providers, with their thorough approach to understanding customer-specific organizational requirements, Spectrotel delivers comprehensive solutions to minimize risk, optimize resources and technology, and modernize the enterprise. For more information visit www.spectrotel.com.
About Grain Management
Grain Management, LLC is a leading private investment firm that focuses on communications infrastructure and technology companies that connect the world to the information economy. Founded in 2007, the Firm invests exclusively in the global broadband industry, employing a rigorous, data-based process buoyed by deep sector expertise to identify investment opportunities in key areas of communications, including fiber networks, wireless spectrum, cell towers, infrastructure services, and managed services. For more information visit www.graingp.com.
Vice President, Marketing & Product
Grain Management Public Relations