Last Mile Connections, with new investment from Ripplewood Holdings, positions itself for dramatic growth and expansion
JERSEY CITY, NJ – September 22, 2005: Last Mile Connections (LMC), a carrier-neutral colocation and bandwidth exchange provider, announces today that Ripplewood Holdings, LLC, a leading private equity firm, has made a significant investment in the Company. Other previous LMC investors include One Equity Partners, a private equity affiliate of JPMorgan Chase & Co.
LMC, a privately-owned company servicing over 160 members, plans on investing the additional funding into operational support systems, to better serve their ever-growing existing customer base, and to test market and further deploy its two latest client offerings, the National Telecommunications Alliancesm (NTA), a program focused on expanding the footprint of competitive local networks, and the LMC Exchangesm, an online bandwidth exchange auction. For more information on either of these offerings, please visit www.lastmileconnections.com.
“This latest round of funding is a testament to our investors’ confidence in the Company’s business model and prospects for continued growth,” states James Martino, Chief Executive Officer and President of Last Mile Connections.
Additionally, Ron LeMay, the former Representative Executive Officer of Japan Telecom and President and Chief Operating Officer of Sprint Corporation, is joining Last Mile Connections’ leadership team as the company’s Executive Chairman.
“Last Mile Communications is a prime example of the future of the communications industry: strong, innovative and competitive,” states Ron LeMay of Last Mile Connections. “LMC’s e-commerce approach to selling bandwidth services is the most cost-effective transaction method for both buyers and sellers, and its NTA concept is an excellent solution to many challenges that confront the CLEC industry today. I am excited to help implement LMC’s initiatives for the overall growth and longevity of the competitive communications industry.”
Last Mile Connections’ investor, Ripplewood Holdings, LLC, is a leading private equity firm established by Timothy C. Collins in 1995. To date, Ripplewood has invested in transactions with aggregate enterprise value in excess of $12 billion.
About Last Mile Connections:
Last Mile Connections provides new and innovative ways for bandwidth intensive users to buy network interconnection bandwidth. With the Online Exchange and 12 carrier neutral colocation centers in New York, Chicago, Dallas, Atlanta, Miami, Los Angeles, and Washington DC, Last Mile Connections brings together buyers and sellers more efficiently than ever before. For addition information on Last Mile Connections visit www.lastmileconnections.com.
For additional information, please contact:
Principal, Jaymie Scotto & Associates