CHARLOTTE, N.C., May 8, 2019 /PRNewswire/ -- Conterra Ultra Broadband Holdings, LLC (d.b.a. "Conterra Networks") today announced a series of promotions as part of a management succession plan to support the Company's next phase of growth. Conterra announced that Craig Gunderson has been appointed Chief Executive Officer. Mr. Gunderson will be responsible for all day-to-day operations, finance and legal-regulatory affairs of the company and will report to the Board of Directors. Mr. Gunderson joined Conterra in April 2017 as President and Chief Operating Officer. Prior to joining Conterra, he spent 14 years with Oxford Networks (now part of FirstLight), the last ten years as its Chief Executive Officer.
Along with Mr. Gunderson's promotion, Conterra announced that its long-time CEO, Stephen Leeolou, has been named Executive Chairman of the Board of Directors. Mr. Leeolou will continue to assist the company on certain strategic and corporate development initiatives. "Since hiring Craig Gunderson in 2017, Conterra has made tremendous progress in transforming our business into one of the nation's leading fiber optic-based bandwidth infrastructure companies," commented Mr. Leeolou. "Craig's leadership and business skills, along with his significant past experience in the telecom industry, including 14 years as a regional fiber company CEO, make him an ideal choice to lead Conterra into its next exciting stage of growth. I am delighted to pass the baton to my highly capable and respected colleague and friend." added Mr. Leeolou.
Conterra also announced today a number of other senior leadership promotions as part of its management succession plan. Mike Tompkins is being named Executive Vice President & Chief Operations Officer; General Counsel Shane Turley is being promoted to an Executive Vice President; and Christopher Harris is being named Chief Technology Officer. Conterra's first and current Executive Vice President and Chief Financial Officer, Eric Burgess, will remain in that role and will report to Mr. Gunderson along with Messrs. Tompkins and Turley. "I am honored to take-over the CEO's role from Steve to lead such a well-established and financially strong company as Conterra," commented Mr. Gunderson. He continued: "Our business is at an exciting inflection point and I could not have a better team with which to pursue the many growth opportunities within our core operating regions."
Commenting on today's announcements, Christopher Bloise, Managing Director at Court Square Capital, noted: "We sincerely thank Steve Leeolou who has been a great partner for the past five years and has helped build Conterra into a strong multi-regional infrastructure solutions provider surpassing $100 million of annual revenue last year." Mr. Bloise added: "We are excited about the senior management team led by Craig, Eric, Mike and Shane who will continue to drive momentum in our business." Alina Osorio, President at Fiera Infrastructure, commented, "We believe that Conterra has been and will continue to be well positioned in the telecom industry and we look forward to the company's continued success under the leadership of Craig Gunderson and his executive team."
About Conterra Networks
Founded in 2003, and now operating more than 11,000 fiber route miles, Conterra is one of the largest remaining independent broadband infrastructure companies in the United States based on its optical fiber and fixed wireless network assets and annual recurring revenues. The company is majority owned by Court Square Capital, with a minority stake now held by Fiera Infrastructure and the remaining ownership largely held by Conterra's management team. For more information about Conterra, please visit www.conterra.com
About Court Square Capital
Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 225 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $6.2 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.
About Fiera Infrastructure
Fiera Infrastructure is a leading global mid-market direct infrastructure investor operating across all subsectors of the infrastructure asset class. Led by a team of highly experienced and specialized professionals, the firm leverages strong global relationships, with a local presence in Toronto, London and New York. Its rigorous approach to investment and asset management aligns with its long-term approach. Fiera Infrastructure has assets under management and commitments of C$1.6 billion, including an active interest in 27 infrastructure assets as of March 31, 2019. http://www.fierainfrastructure.com
SOURCE Conterra Ultra Broadband Holdings, LLC