Titan Grove Holdings announced last week that it has completed the sale of NextEdge Networks Holdings and its wholly-owned subsidiary, Modus, to Bow River Capital, a private equity firm based in Denver.
“I am incredibly proud about what the Modus team, led by CEO Chris Maguire, has achieved over the last four years. It is a testament to the quality and commitment to excellence of our people,” said Jeffrey Tannenbaum, Chairman of the Board of Modus and founder of Titan Grove. Tannenbaum further stated, “The Modus team has done an extraordinary job building a scalable business that will drive the acceleration of smart city infrastructure and skilled worker job creation while also demonstrating how B Corps can serve as model corporate citizens.”
Chris Maguire, Modus’ Chief Executive Officer, said, “Modus’ innovation and significant commercial success exemplify the incredible commitment of all our team members to delivering superior service to our growing customer base. Our leadership team and positive culture that Modus co-founders Chad Abbott and Erik Corkery have astutely built support this in full.”
Bow River Capital seeks to invest in leading middle market companies that advance the country’s infrastructure by improving built environments and our network infrastructure. “Modus is a standout player in small cell deployment and smart city solutions led by a highly accomplished management team,” commented Greg Hiatrides, Managing Director at Bow River Capital.