Smartaira Bolsters Scale and Service Offering with Growth Equity Investment from SDC
LOS ANGELES, May 3, 2022 /PRNewswire/ — Consolidated Smart Systems, LLC (dba "Smartaira") announced today that funds managed by SDC Capital Partners, LLC ("SDC") recently acquired a majority interest in Smartaira, providing Smartaira with significant capital to fuel its growth and acquisition strategy in the multifamily internet and entertainment industry.
SDC has provided Smartaira, a leading provider of high-speed internet service to the multifamily market, with financial support to close several significant opportunities with nationally recognized multifamily brands and acquire strategic assets, accounts, and technologies from local service providers. SDC has committed up to an additional $100 million to continue the expansion of Smartaira’s footprint through organic growth and acquisition.
"The industry reputation, operational expertise, and financial support of SDC allow us to partner with national property owners and management companies to deliver an incredible Managed Wi-Fi experience for residents," said Dan Terheggen, Chief Executive Officer at Smartaira. "This level of service, support, and innovation hasn’t been available to these properties through the traditional providers. SDC also champions our acquisition strategy, allowing us to rapidly scale this model and attract the industry’s best people."
"We’re excited to back Smartaira because of its history in building industry-leading infrastructure and technology that delivers the highest quality broadband service to the multifamily market," said Clinton Karcher, Partner at SDC. "Smartaira’s team, infrastructure, and platform are capable of delivering exponential growth in new and existing markets, and we look forward to working with the Smartaira team in support of their continued execution," added SDC Vice President, Victoria Seskin.
Smartaira recently closed two acquisitions with the support of SDC. In Smartaira’s first transaction, it acquired the multifamily account portfolio from Just In Time Technology Solutions in Rancho Cucamonga, CA. "Dan and his team are the perfect partners to manage our multifamily portfolio going forward," stated Justin Jones, founder of Just in Time Technology Solutions. "We look forward to introducing Smartaira to our other customers as they require robust internet and Wi-Fi solutions."
In its second transaction, Smartaira acquired the technology, assets, and customer accounts of Blue Rim Networks in Logan, UT, with all Blue Rim employees joining Smartaira in their respective roles. The Blue Rim network operations center (NOC) merged with the Smartaira Smart Desk, increasing the size and capability of the internal support team. Blue Rim’s innovative, managed Wi-Fi platform, now branded "Smartaira 360", provides residents and guests with secure, high-performance internet access and simplified Wi-Fi onboarding.
"My goal was to merge with a company that valued the expertise of the Blue Rim team and shared our vision for simplifying multifamily connectivity," noted Darren Child, Founder and CEO of Blue Rim Networks (now serving as VP of Product and Business Development at Smartaira). "Our team has thrived through the integration and is excited about the larger market and growth opportunities that we gained through partnering with Smartaira."
"Rebranding Consolidated Smart Systems to Smartaira at this time is a natural evolution of our legacy, delivering smarter internet solutions and simplifying the customer experience," added Bob Benton, Chief Marketing Officer at Smartaira. "The addition of SDC and the Blue Rim team has set us on a new trajectory. That level of excitement and opportunity deserves a fresh, modern look that will make people notice that we’re stronger, smarter, and more confident."
Chief Marketing Officer
Smartaira is a national, independent internet service provider specializing in smarter internet and entertainment solutions for property owners and managers. Smartaira’s bulk and retail broadband solutions focus on maximizing resident satisfaction and increasing property values. Smartaira’s flagship managed service, Smartaira 360, provides seamless, community-wide internet connectivity with symmetrical, gigabit speeds, enterprise security, and unlimited data. Smartaira believes that innovation, premium support, and industry expertise create hassle-free amenities for property owners and managers, which drive net operating income and portfolio value. For smarter internet and entertainment solutions, visit www.smartaira.com.
About SDC Capital Partners
SDC Capital Partners, LLC is a global digital infrastructure investment firm. SDC invests in data centers, fiber networks, wireless infrastructure, and associated businesses, with a focus on opportunities to leverage its deep operational expertise in partnership with exceptional teams to create value. For more information, please visit www.sdccapitalpartners.com.