Andy Parrott
promoted to the role of MBI
CEO
Phil Spencer to
continue to serve on the Board of Directors and as a Senior Advisor
to MBI
SHAWNEE,
Okla., April 29, 2024 /PRNewswire/ -- Mega
Broadband Investments LLC ("MBI"), a leading provider of broadband
services across the Southeast, Northwest, and Mid-South United
States that goes to market under the Vyve Broadband brand ("Vyve"),
today announced that Andy Parrott has been promoted to the
role of CEO, effective May
1st, 2024. Current CEO Phil Spencer will transition to a senior advisor
role to continue to support the business' growth.
"We want to thank Phil for his strong leadership and partnership
as CEO of MBI over the last six years and for the instrumental role
he has played to build and grow MBI into the business it is
today. Phil is a world-class CEO, and even more importantly
he is a close friend and mentor to all of us at MBI," says
Stephen Jeschke, MBI Board Member
and Managing Director at GTCR, a leading private equity firm and
majority investor in MBI. "Phil recruited Andy back in 2019 to join
MBI with the vision that Andy had the potential to be his successor
and we are thrilled to have Andy stepping into the CEO role from
his current role as President and COO."
"Andy is a remarkable leader who has been instrumental to
several strategic initiatives at MBI including the roll out of
Gigabit internet service across the footprint, improvement of
customer service, and growth of residential HSD penetration in key
markets," added Phil Spencer.
"Since Andy joined the team in 2019 he has demonstrated he
understands the business on a very deep level, and we are all very
confident in Andy's leadership capabilities and believe his innate
passion for the Company's employees and customers will help
contribute to his success in driving MBI's growth strategy moving
forward."
"We have been very impressed with Andy's impact on the business
during our time as investors over the last several years, and his
thoughtful leadership alongside Phil has been core to MBI's strong
performance," says Julie Laulis, CEO
of Cable One (NYSE: CABO), a leading broadband communications
provider and minority investor in MBI. "Andy has a community-first
mindset and a management style that fosters a culture of continuous
improvement – these attributes align well with our values at Cable
One, and we are excited to continue to partner with Andy and his
team for the next chapter of growth for MBI."
An industry veteran, Mr. Parrott began his career in technical
operations for Charter Communications before serving in roles of
increasing seniority at Suddenlink Communications and, eventually,
Altice USA after their 2015
acquisition of Suddenlink. Mr. Parrott joined MBI in 2019 as the
Chief Operating Officer and was promoted to the role of President
in 2021. During his time at MBI, Mr. Parrott has led the system
upgrade efforts, integration of MBI's acquisitions, and continued
focus on customer-centricity, as well as the management of
day-to-day operations across field services, engineering, network
operations, construction, IT, and customer care.
About Mega Broadband Investments
Mega Broadband Investments LLC, operating as Vyve Broadband,
largely serves rural communities in sixteen states across the
Southeast, Northwest, and Mid-South United States. Vyve Broadband
offers an extensive range of broadband, fiber connectivity, cable
television and voice services for commercial and residential
customers. Residential services include high-speed internet with
services up to Vyve Multi-Gig, all-digital and high-definition
video and digital voice services. Vyve Business Services provides
optical Ethernet, PRI and hosted voice services to the business
community. For more information, please visit
www.vyvebroadband.com.
About GTCR
Founded in 1980, GTCR is a leading private equity firm that
pioneered The Leaders Strategy™ – finding and partnering with
management leaders in core domains to identify, acquire and build
market-leading companies through organic growth and strategic
acquisitions. GTCR is focused on investing in transformative growth
in companies in the Business & Consumer Services, Financial
Services & Technology, Healthcare and Technology, Media &
Telecommunications sectors. Since its inception, GTCR has invested
more than $25 billion in over 270
companies, and the firm currently manages $40 billion in equity capital. GTCR is based in
Chicago with offices in
New York and West Palm Beach. For
more information, please visit www.gtcr.com.
About Cable One
Cable One, Inc. (NYSE:CABO) is a leading broadband
communications provider committed to connecting customers and
communities to what matters most. Through Sparklight® and the
associated Cable One family of brands, the Company serves more than
1 million residential and business customers in 24 states. Powered
by a fiber-rich network, the Cable One family of brands provide
residential customers with a wide array of connectivity and
entertainment services, including Gigabit speeds, advanced WiFi and
video. For businesses ranging from small and mid-market up to
enterprise, wholesale and carrier, the Company offers scalable,
cost-effective solutions that enable businesses of all sizes to
grow, compete and succeed. For more information, please visit
https://www.cableone.biz/.
Contacts:
Mega Broadband Investments
Kellie Kennedy
312-933-4903
kelliek@theharbingergroup.com
GTCR
Andrew Johnson
212-835-7042
andrew.johnson@gtcr.com
Cable One
Trish
Niemann
602-364-6372
patricia.neimann@cableone.biz
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SOURCE Mega Broadband Investments LLC