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Catalyst Invests $10 Mln in Barrett Xplore

 

 

21 December 2010

 

Growth private equity firm Catalyst Investors announced its $10 million equity investment in Barrett Xplore Inc., the leading provider of 4G wireless and satellite broadband services to rural Canada. Barrett plans to use the proceeds of the funding to continue its rapid customer growth and prepare the launch of two next-generation satellites, which will offer significant increases in speed and capacity. Catalyst partner Chris Shipman will join Barrett’s Board of Directors.

 

“The introduction of 4G wireless broadband services into the rural Canadian marketplace will be a game changer for many of the 2.4 million Canadian households currently overlooked by terrestrial offerings,” said Shipman.

“We are excited to have Catalyst Investors as our new partner, and believe that their extensive wireless industry experience and track record of value creation will be very helpful as we take our company to the next level,” said John Maduri, CEO of Barrett Xplore Inc.