The San Francisco-based firm co-led the buyout of Baja in 2006 and has since invested $27.2m in the business, which has achieved average EBITDA growth of 22 per cent over the past four years.
Baja is a full-service communications company, providing video, high-speed broadband and voice services to residential and commercial customers in several US states.
M/C Partners vice president Lydia Jett said, “This successful transaction validates our premise of continued growth in broadband demand.
“We are proud of the tremendous job the Baja management did in positioning the company for this moment, and are pleased that TDS is acquiring Baja. We are confident TDS will serve the communities and Baja’s employees well in the long term.”
M/C Partners, which is focused on the communications, media, and information technology sectors, has invested $1.5bn in more than 100 companies.
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