Capital Insights Newsletter | Q1 2026

Welcome to Capital Insights.

Over the past twelve months, Stefanov Capital has grown its advisory team, closed transactions, deepened technology partnerships, and shown up at the industry events that matter most to the operators and investors we serve.

Edition One | Q1 2026

From the CEO

Keeping you inside the story.

Capital Insights is our way of keeping you inside that story, not as a marketing exercise, but as a genuine commitment to transparency with the clients, counterparts, and community we have been building alongside.

Special thanks to those who have joined us for this first quarter.

Micky Stefanov CEO

On the Road

Conference season at the close of Q1.

The first half of 2026 took our team from Nashville to Fort Lauderdale to the heart of the ISP community: three marquee events, multiple speaking engagements, and one industry dinner. Here is where we have been and what we brought to the room.

Nashville, TN

FISPA Live

CEO Micky Stefanov took the stage as a featured speaker, joining conversations with the fiber and ISP community on valuations, market positioning, and what separates a transaction that closes well from one that leaves value on the table.

Fort Lauderdale, FL

Metro Connect USA

Stefanov Capital hosted a private dinner for a curated group of infrastructure leaders, investors, and operators. The evening reflected how we build in this industry across the country.

Tarana Wireless Panel

ISP America

Micky presented on FTTP valuations, how Tarana wireless technology affects deal multiples, and what it means to evaluate an ISP from the vantage point of an institutional acquirer.

His 2.5-hour session during Tarana Time covered valuation and access to capital in today's environment.

“Thanks to Micky and the Stefanov Capital team. The response to your presentation was very positive and I know that the ISP community found it super informative.”
George HellmuthLead of North American Sales, Tarana Wireless

Leadership

Four new additions. One stronger advisory team.

Since March 2025, Stefanov Capital has welcomed four professionals whose backgrounds span operations, capital markets, FTTP infrastructure, and marketing. Each brings something the firm needed. Together, they represent a step change in what we can deliver.

Jeffrey Stefanov

Partner & Chief Operating Officer

Joined March 2025

Nearing one year at Stefanov Capital, Jeffrey led global operations for seller experience and technology at PayPal, where he drove company-wide sales strategy transformation and implemented technologies that elevated the client experience at scale. With more than a decade in operations leadership, complemented by consulting and sales, Jeffrey brings a discipline to how we run engagements that our clients feel in every interaction.

Sydney Atkins

Partner & Chief Investment Officer

Joined September 2025

Sydney's career spans Goldman Sachs, Ellevest, Boston Omaha Corporation Asset Management (NYSE: BOC), and a role as Lead Independent Director of Yellowstone Acquisition Company (NYSE: YSAC). She holds an MBA from the MIT Sloan School of Management and brings a rare combination of institutional capital markets expertise and operating judgment to our clients' most complex financing and transaction decisions.

Landon Morrison

Marketing Director

Joined December 2025

Landon brings a skill set that bridges design, brand strategy, and technology. A proud alumnus of Miami University, he received his bachelor's in Emerging Technology in Business and Design and his Master's in Entrepreneurship & Emerging Technology. His experience includes a Business Architecture internship at Chipotle Mexican Grill (CMG), a communications and graphic design internship with the U.S. State Department, and work as a marketing consultant to Lyceum AI. Along the way he served on steering committees and advisory roles with the Miami University Student Foundation and the Miami University College of Creative Arts.

Stephen John

Head of FTTP Consulting & Senior Advisor

Joined January 2026

Steve brings more than four decades of executive leadership in broadband and wireless infrastructure. He co-founded American Broadband / UNSi, scaling it to $70M in revenue before a successful exit to GTT Communications; led Charter's business services launch; and served as President & CEO of Westell Technologies (NASDAQ: WSTL). His role at Stefanov Capital is to close the gap between how fiber operators run their businesses and how institutional buyers underwrite them.

Transaction Spotlight

Deals worth noting.

Transactions close quietly. We believe they deserve a moment of acknowledgment, both for the clients who trusted us with the work and for the operators who built something worth acquiring.

Exclusive advisor to HC Wireless

Wi-Fiber acquires HC Wireless

Texas Hill Country

Serving as exclusive advisor to HC Wireless, Stefanov Capital assisted in the acquisition that brings Wi-Fiber to the Texas market. The company will operate as HC Wireless by Wi-Fiber, pairing HC Wireless's strong community presence with Wi-Fiber's operational support and long-term investment.

“Expanding into Texas has been a strategic priority for us, and HC Wireless is the right partner to lead that effort. Their reputation across the Hill Country makes this a strong first step as we establish our presence in the state.”
Mike Crapse, CEO, Wi-Fiber

Advisor to Chisholm Broadband

Chisholm Broadband acquires Airosurf Internet and ProValue

Oklahoma | September and December 2025

Stefanov Capital assisted Chisholm Broadband in the acquisition of Airosurf Internet in September 2025 and ProValue in December 2025, helping close the digital divide across the state of Oklahoma.

“This merger is more than just a business deal; it's a commitment to providing our neighbors with the best possible connectivity while maintaining the local values that have always defined us.”
Brian J. Lamoreaux, President and CEO

Technology Partnership

Working with Biarri Networks.

Sound advisory requires the right tools. We are proud to be working with Biarri Networks, a global leader in fiber network design and planning, to integrate their technology into how we advise clients.

Biarri's FOND platform delivers optimized fiber network design with precise cost estimation and GIS-integrated planning. By incorporating Biarri's tools into our advisory process, we can give clients, and the buyers evaluating them, a clearer, more defensible picture of network economics, construction cost basis, and long-term design quality.

This partnership reflects a commitment we have made: when we represent a fiber operator in a transaction, we want to present their network with the same precision that sophisticated acquirers use to underwrite it. Biarri helps us do exactly that.

Up to 25x

faster optimized fiber network design than traditional methods with Biarri's FOND platform

“We're proud to work alongside Stefanov Capital to help broadband leaders better understand their markets and make smarter strategic decisions. By integrating Biarri's Market Lens capability into their advisory services, Stefanov Capital is able to deliver deeper market visibility and more informed strategic guidance to their clients.”
Biarri Networks

Closing

This is what forward looks like.

A year ago, Stefanov Capital was a smaller firm with a clear vision and a growing reputation. Today, that vision is even bigger: in the team we have built, the transactions we have closed, the partnerships we have formed, and the conversations we are having at the highest levels of the ISP and fiber broadband industry.

The opportunity in front of fiber operators right now is real. Buyer appetite is strong, capital is looking for quality assets, and the operators who have done the preparation work, who understand their numbers, their network, and their narrative, are the ones walking away from the table with terms they are proud of. That is the work we exist to do, and we are just getting started.

“Thank you for being part of this community. We look forward to everything the rest of 2026 brings, for our clients, our partners, and this industry.”
Micky Stefanov | CEO & Founder

Ready to start the conversation?

Whether you are a fiber operator beginning to think about timing, a buyer building your acquisition pipeline, or a partner evaluating how to work together, we welcome an early conversation.

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