Eco-Site, Inc. Receives $80 Million Funding Commitment; Begins Operations
CHAPEL HILL, N.C., Dec. 7, 2012 /PRNewswire/ -- Eco-Site, Inc., a newly formed company focused on the development of wireless communications sites on brownfield and blighted properties in highly congested metropolitan markets, today announced that it has received a commitment of $80 million in equity financing led by MSouth Equity Partners, an Atlanta-based private equity firm.
Dale Carey, Chief Executive Officer of Eco-Site, said, "We are launching a new model for wireless infrastructure that capitalizes on a unique convergence of market opportunities. We will buy and remediate the real estate, build an urban micro-cell while also providing backhaul and backup generator services. We believe this comprehensive package offers a unique solution for wireless carriers."
Members of the management team have deep experience and relationships in land remediation and development, wireless infrastructure and technology industries. In addition to Mr. Carey, Eco-Site's executive management team includes President and Chief Operating Officer, Bob Glosson and Executive Vice President and General Counsel, Rich Stern.
Barry Boniface, an MSouth Equity Partner said, "We are very excited about our investment in Eco-Site and look forward to working with this highly experienced management team. We believe the Company is in an excellent position to capitalize on the increasing demand for wireless infrastructure in dense urban markets."About MSouth Equity Partners MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, distribution and specialty manufacturing companies. With more than $700 million under management in two active funds, MSouth is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984.
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