Portfolio Companies
Sample Historical Investments
Brooks Fiber Properties (BFP) was a competitive access provider (CAP) that evolved into a CLEC. BFP focused on the ownership, operation and development of modern telecommunications infrastructures and provided voice, video and data services over fiber optic networks to customers in selected second and third tier U.S. cities.
Jim Allen, as Vice Chairman and CEO, and David Solomon, as Executive Vice President and CFO, are widely credited with BFP’s success. Mr. Allen and Mr. Solomon grew BFP from seven employees to more than 1,800 and managed the corresponding growth in systems and oversight of more than $1.0 billion in telecom assets. As a board member of BFP, Jack Tankersley led the Company’s strategic planning sessions and served on four of its five board committees. BFP was acquired by WorldCom in a $3.4 billion merger transaction in January 1998.
Cencom Cable Associates provided video services over fiber optic networks to customers in rural areas throughout the U.S. In 1982, Jack Tankersley encouraged Jim Allen to develop a national cable television consolidation strategy, and he formed Cencom with co-founder Bob Brooks. At Centennial, Mr. Tankersley sourced the opportunity and attended Board of Directors meetings and strategic planning sessions.
As co-founder, CFO and COO of Cencom, Jim Allen was the company’s financial architect and a key to its success. Under Mr. Allen’s leadership, Cencom developed an innovative limited partnership structure for its acquisitions, which led to high leverage and extraordinary equity returns, and became the fifteenth largest cable television company. Cencom was acquired in 1991 by Crown Cable Corp, a division of Hallmark Industries, for over $1.0 billion.
Digital Television Services consolidated rural and suburban DirecTV service areas and provided digital satellite television and audio services over a satellite network to households throughout the United States. DTS had the exclusive right to distribute DirecTV digital broadcast satellite services to approximately 1.8 million rural households in 11 states.
Doug Holladay founded Digital Television Services in 1996 and served as President, CEO and Director until the Company was acquired by Pegasus Communications Corporation in 1998 for $335 million.
MetroNet Communications Corp. provided local voice and data telecommunications services over wireline networks to business and government customers in Canada’s 11 largest markets.
Jim Allen was asked by Providence Equity Partners to serve as a member of the Board of Directors. Mr. Allen was instrumental in MetroNet’s acquisition of Rogers Telecom Inc in June 1998, which made MetroNet the largest facilities-based CLEC in Canada. MetroNet was acquired in 1999 by AT&T Canada in a $3.2 billion merger.
MindSHIFT Technologies provides managed IT services, VoIP and other compliance services to small and medium-sized organizations.
As a Venture Partner for Columbia Capital, Doug Holladay served as interim CEO of MindSHIFT in 2002 and led a comprehensive operational restructuring that stabilized the company’s operations and positioned it for sustained growth. Mr. Holladay remained on the MindSHIFT Board of Directors until he joined Meritage near the end of 2003.
Sterling Cellular provided voice services over wireless networks to rural customers in the Southeastern U.S.
Doug Holladay served as President, COO and a member of the Board of Directors of Sterling Cellular, where he was primarily responsible for acquiring and managing the company’s cellular markets. Sterling Cellular ultimately sold its network in clusters between 1994 and 1996 during industry consolidation to McCaw Cellular, Vanguard Cellular, Palmer Cellular and others in transactions that valued the company at $265 million.
Telewest provided digital television, broadband and internet services over fiber optic and cable networks to residences and businesses in the United Kingdom.
Jim Dovey was the founding CEO of Telewest. Under his leadership, Telewest grew to be the premier cable access provider of bundled telephone, video and internet services in the United Kingdom. The Telewest IPO in 1994 valued the company at over $2.8 billion.
Verio, Inc. provided internet connectivity, web hosting and other enhanced internet services to small and medium-sized businesses over virtual networks. Verio rapidly established critical mass and a national presence through acquisition, integration and growth of more than 40 independent ISPs that provided a comprehensive range of internet connectivity, web hosting and other enhanced services to businesses.
Jack Tankersley was instrumental in recruiting Jim Allen as a founding investor and founding Director of Verio. Together they initiated BFP’s interest in Verio, and both played a significant role in BFP becoming the company’s largest investor. Under Mr. Allen’s leadership, BFP purchased $50 million of Verio’s $150 million high yield offering, ensuring the offering’s success. Mr. Allen was key to the company’s success and served on Verio’s Board of Directors until it was purchased by NTT in 2000 for $6.4 billion.
The Weather Channel provides programming services to cable and satellite networks throughout the United States. Doug Holladay was one of the original members of The Weather Channel management team, holding various senior executive positions including Chief Administrative Officer and Vice President of Cable Marketing.
