Grain Management, a private investment firm and services provider to the global broadband industry, has acquired Spectrotel Inc., an aggregator and integrated technology services company.
Spectrotel offers managed services, connectivity, cloud communications, security and professional services to help mid-market companies and enterprise businesses with business growth and transformation through technology. In conjunction with the close of the deal, Spectrotel’s 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.
“This opportunity will help solidify our continued success, building on our award-winning suite of technology solutions, expertise, and expansive diverse customer base,” states Artale. “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.”
Citizens Capital Markets Inc. served as financial advisor to Spectrotel, and Alston & Bird LLP and Wachtel Missry LLP served as legal advisor to Grain and Spectrotel, respectively.