TROY, Mich., October 7, 2021 (Newswire.com) - Clear Rate Communications, an innovative telecommunications service provider offering fiber internet, cloud solutions, voice and Managed IT solutions to over 30,000 residential and business customers nationwide, announces its acquisition to L4, LLC, an affiliate of Linx Partners, representing the investment firm's second platform investment in the dynamic telecommunications industry.
Clear Rate, headquartered in Troy, Michigan, provides enterprise and consumers with a wide array of telecommunications solutions in over 20 states. The Company's enterprise-focused services include fiber internet, hosted phone systems, cloud servers, managed IT and additional services. Since its founding in 2001, the Company has developed a reputation for both white glove and reliable service while continuing to develop advanced solutions in the ever-evolving telecom industry. Over the last five years, the Company has invested millions of dollars in constructing fiber infrastructure in the state of Michigan and a state-of-the-art data center with Cisco multi-100Gb switching fabric and multiple redundant systems. Clear Rate is in a strong position to accelerate growth and expansion with these infrastructure investments.
At closing, industry veterans Stephen Oyer and Pat O'Leary will join Clear Rate as its Chief Executive Officer and Executive Chairman of the Board of Directors, respectively. Stephen has worked in the telecom industry for over 30 years and played a fundamental role in growing US Signal from 1997 to 2020 as its President and Chief Operating Officer and EVP of Sales. Pat has held senior management positions at numerous telecom companies in Michigan since 1989, including Everstream Solutions, TelNet, and LDMI Telecommunications. Thane Namy and Sam Namy, the Company's current owner-operators, will continue in senior management roles at Clear Rate and will maintain significant ownership going forward.
Stephen Oyer commented on joining the Clear Rate team. "I am excited about the opportunity to lead the quality team at Clear Rate and shepherd the Company into its next phase of growth, building on its strong technical expertise and advanced solution offering."
"Clear Rate is at a critical inflection point in its growth story," said Pat O'Leary. "The foundation is already in place for the Company to expand its capabilities and geographic reach to serve more customers. I am delighted to be able to lead the Board of Directors as we grow and build the Company."
Thane Namy commented, "We couldn't be more thrilled about the fit we have found with L4 and the addition of Steve and Pat to lead our team. These partnerships will allow us to continue our expansion, bolster our team, and more aggressively capture market share."
Giny Mullins, a Managing Director at L4, added, "We were drawn to Clear Rate because of its leadership, strong technical talent, and focus on customer service. Thane and Sam have built a quality company which we are honored to partner with. We are also excited with the addition of Steve and Pat. We believe that, with this management team, the Company is well-positioned to capitalize on numerous growth opportunities and industry tailwinds. Clear Rate has grown to possess many of the characteristics that L4 admires in a service provider, matching well with the type of partnerships that we've made in the past to professionalize businesses for their next phase of growth."
L4 and the Company are also pleased to be working with Texas Capital Bank, which provided the senior debt financing for this transaction.
Clear Rate Communications
Source: Clear Rate Communications