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At the end of 2018, Ricardo Montes de Souza launched Light Wave Capital and successfully acquired Nova Telecom in 2021, with the support of various investors, including KYR Capital, Spectra Investments, Alza Capital Partners, WSC & Company, among others. After restructuring this mid-market Brazilian firm and implementing proven cash flow generation measures (doubling Nova’s EBITDA during LWC’s three-year holding period), LWC has sold the company to Brasil Tecpar for BRL 74.75M (€11.5M).
The deal was announced last year, pending CADE approval, and was finally concluded at the end of January 2025.
Nova Telecom is a regional ISP operating in Belo Horizonte and neighboring cities in Minas Gerais. The company serves approximately 45,000 customers and generates an annual revenue of BRL 54M.
Brasil Tecpar is rapidly expanding in the fixed broadband sector and has aggressively pursued an acquisition strategy, acquiring more than 50 providers since 2016. The company serves over 642,000 clients and operates under four different brands: Amigo, for the residential segment and small to medium-sized businesses; Avato, for the corporate and government markets; Safety Cables, for monetizing telecom assets; and Bereit, for special IT and telecom projects.
This transaction is not the best Brazilian exit, as the company has faced many challenges, and the ISP sector has undergone significant devaluation in recent years.
Buyer (Legal): Silva, Santana & Teston Advogados / Cescon Barrieu / Seller (Legal): Madrona Fialho
