Bridge Growth Partners, LLC, a sector-focused, growth-oriented private equity firm, has made a majority equity investment in Accedian Networks Inc., a Montreal based provider of highly accurate network performance monitoring and assurance solutions.
Financial terms were not released. Financial Post reported Bridge Growth Partners “invested north of US$100 million”. The transaction is structured as recapitalization with Bridge Growth Partners’ buying out Accedian’s principal venture capital backers, Rho Canada Ventures and Fonds de solidarité FTQ.
Accedian’s software and technology are used by the world’s largest mobile, enterprise, and carrier networks to monitor, test and ultimately ensure real-time quality of service (QoS) and quality of experience (QoE) for operators. Accedian employs over 250 staff worldwide and serves more than 300 customers in over 60 countries, including SK Telecom, Telefonica, T-Mobile, Cox Business, Softbank, América Móvil, Reliance Jio and COLT.
Tom Manley, Bridge Growth Partners’ Senior Principal and Chief Administrative Officer and formerly CFO of Avaya and Cognos, will serve as Chairman. Alok Singh, Bridge Growth Partners Managing Principal, Bill Teuber, CEO Patrick Ostiguy, George Cooney, and former Juniper executive Eddie Minshull will serve as directors.
New York based Bridge Growth Partners, LLC was formed in 2013. Its luminary advisory board includes John Manley, CEO of the Canadian Council of Chief Executives and former Deputy Prime Minister and Finance Minister of Canada.
Bridge Growth Partners’ Canadian portfolio companies also include Solace System which it acquired in April 2016.