Renovata & Company Places CEO at Single Digits
June 4, 2021 – Global executive search and private equity advisory firm Renovata & Company has recruited Michael H. Sargent as the new CEO of Single Digits, a provider of high-speed internet access (HSIA) management and support solutions.
He succeeds Stephen Singlar, CEO and co-founder of Single Digits, who will remain on the board of directors. The search comes shortly after the firm helped Single Digits recruit its COO.
“Mike has a career spanning infrastructure technology, with demonstrable success at CA Technologies followed by five years building considerable value with a Thoma Bravo-backed portfolio company,” said Simon Francis, partner at Renovata & Company. “He is known for his strategic thinking and operational rigor, coupled with a hands-on, relatable leadership style. Mike has the skill-set to take Single Digits to new heights.” Mr. Singlar, along with co-founder Bob Goldstein, have led the company since its inception for nearly two decades.
“I am very excited for the future of our industry and for the opportunities in front of both Single Digits and our customers,” said Mr. Singlar. “Bob and I have been laser-focused on building Single Digits and delivering industry leading solutions for many years. As our industry continues to evolve, the opportunity is tremendous. Our customers’ networks and connectivity solutions are increasingly valuable and central to their success. I am honored and thrilled that we have found a leader of Mike’s caliber to be joining Single Digits, building upon our momentum, and leading us into the future.”
Mr. Sargent was previously interim chief executive officer, board member and chief technology officer for Aternity, where he led the spin-out from Riverbed and built out a strong, independently operating company. Before that, he was senior vice president and general manager in the SteelCentral division of Riverbed Technology, where he led the turnaround of an underperforming business. He has also worked as senior vice president and general manager of enterprise management/service assurance at CA Technologies; and he was a senior partner of communications, media and technology practice at Oliver Wyman, a management consulting firm.
The appointment of Mr. Sargent coincides with the company’s push to leverage its tremendous growth and momentum in the managed Wi-Fi and connectivity technology sector. “The managed Wi-Fi industry is at an inflection point,” said Mr. Sargent. “End users have become more demanding than ever, and owners/operators have the opportunity to drive significant operating efficiencies, revenues and customer/resident experiences through the adoption of new technologies. Both require unparalleled execution in connectivity management. Single Digits is extremely well-positioned to be the partner of choice in helping customers address these next-generation needs.”
“Mike is an accomplished strategic leader with a well-rounded track record,” said David Mace of GI Partners. “We are excited to welcome him to Single Digits and look forward to supporting him as he leads the business through its next stage of growth. We also want to commend Steve for his multitude of accomplishments and his long-term dedication to building Single Digits.”
Backed by private equity investor GI Partners, Single Digits offers a complete guest internet solution, including IP network design, engineering, professional services, ongoing maintenance, networking monitoring, multi-lingual support, revenue reporting and authentication tracking. The company serves more than 1,600 customers across various industries, including hospitality, property management, healthcare, government, education, travel and more.
Private Equity Search & Advisory Firm
Renovata & Company is a global executive search and private equity advisory firm. The firm partners with financial sponsors, their portfolio companies, and public corporations to deliver leaders and investment insights. The search firm’s executive recruiting activities are focused on search assignments covering board-level mandates, which include board directors, CEOs, CFOs and other C-suite executives, as well as investment professionals and operating partners. The firm provides strategic counsel to clients across the technology, digital, business services, industrial, consumer and retail sectors.
Renovata & Company has relationships with over 50 of the top 100 private and growth equity firms globally. Its private equity advisory services include diligence support, backable executive introductions and deal sourcing delivered by its affiliate, L Capital Advisors. The firm also makes equity co-investments alongside its private equity clients through its investment affiliate, L Capital. The search firm is privately held and operates from five offices across two continents: Boston, Hamburg, London, New York and San Francisco.
Mr. Francis is a partner and co-founder at Renovata & Company. His practice is focused on serving the founders and managing partners of private equity sponsors. With 24 years’ experience, he has led and completed hundreds of retained search engagements. Today, his assignments are primarily CEO searches for PE-backed portfolio companies, plus adding C-suite executives and board directors supporting “portco” CEOs. Mr. Francis is also one of the firm’s specialists in GP-level portfolio operations and “operating partner” searches.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media
