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CHICAGO, IL, July 18, 2023 /24-7PressRelease/ -- Zentro, the Midwest's fastest growing internet service provider (ISP), today announced that it has acquired Ohio-based Snip Internet. The combined business now represents the largest independent MDU-focused ISP in the region serving 1,200 buildings and 61,000 subscribers in Chicago, Milwaukee, Cleveland, Columbus, Detroit, and Atlanta.
Zentro and Snip were both founded on the desire to improve customers' perception of their internet experience – by providing remarkably fast, reliable speeds combined with responsive, concierge-level customer support. In addition to both companies' consistent 5-star customer reviews and multiple industry awards for commitment to customer service, Zentro was recently named to the Inc. 5000 list of America's Fastest Growing Private Companies.
"We are excited to welcome Snip Internet colleagues and customers to the Zentro family," said Dave Dobbin, CEO of Zentro. "This acquisition is a major milestone in our growth journey, and it will allow us to further accelerate our mission of providing the best possible internet experience to our customers. Snip Internet is a highly respected company with a strong track record of innovation, and we are eager to leverage these amazing properties to expand our service footprint."
Brett Lindsey, Founder and CEO of Snip Internet, added, "We are thrilled to join forces with Zentro. The Zentro acquisition is a great opportunity for our customers, employees, and partners. Together, we will be able to offer a wider range of services, reach more customers, and continue to innovate at the leading edge of the MDU market."
Ryan Carr, Partner at M/C Partners, commented, "We are very pleased to support this strategic acquisition. Zentro and Snip Internet are both highly respected companies with a shared commitment to providing excellent customer service. This acquisition will create a leading MDU-focused ISP with the scale, resources, and expertise to meet the growing demand for high-speed internet in multi-dwelling units."
Houlihan Lokey served as the exclusive financial adviser to Snip in connection with the transaction. Thompson Hine LLP and Choate LLP provided legal services to Snip and Zentro, respectively.
Built on the promise of "Enlightening Fast Internet," Zentro is committed to improving customers' perception of their internet experience by providing remarkably fast, reliable speeds combined with exceptionally responsive customer support. Delivering documented 99.99 percent uptime, consistent 5-star customer reviews, and multiple industry awards for commitment to customer service, Zentro's client roster includes many of the largest residential developers and most iconic properties in the Midwest, including The Tribune Tower and John Hancock Center. For more information, visit zentrointernet.com
About Snip Internet
Snip Internet is challenging residential internet with its "Fat Pipe. Happy Life." mentality. With symmetrical speeds up to 1Gbps delivering unmatched upload and download performance, Snip is creating the fastest and most reliable internet experience possible for apartment residents. For more information, visit snipinternet.com.
About M/C Partners
M/C Partners is a private equity firm focused on small and mid-size businesses in the digital infrastructure and technology services sectors. For more than three decades M/C Partners has invested $2.4 billion of capital in over 140 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its eighth fund, partnering with promising companies and leadership teams to support, scale, and improve operations and maximize value. For more information, visit https://mcpartners.com.
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