26North Partners LP has agreed to acquire Intermedia Intelligent Communications from Madison Dearborn Partners, marking a further investment in the cloud communications and collaboration market.
Intermedia provides AI-powered communications and collaboration solutions to more than 150,000 business customers through a network of over 7,500 partners.
Its partner-first model allows resellers to brand and manage services while retaining ownership of customer relationships, supporting a recurring revenue base and long-term customer engagement.
The company has grown as businesses continue to move away from on-premises systems toward cloud-based communications. It now generates more than $430 million in annual recurring revenue, with continued growth in its communications business.
“We are thrilled to partner with Intermedia and pleased to have current management remain as investors in the business.
The company has built a leadership position in cloud communications, with innovative products, high-quality service and support, a strong team and a powerful channel partner network,” said 26North Senior Partner and Head of Private Equity Mark Weinberg.
“This transaction is another example of 26North’s private equity strategy: investing in growing, market-leading businesses where our platform can contribute meaningfully to a company’s future growth and profitability.”
Intermedia has expanded its platform to include unified communications, contact centre capabilities, Microsoft Teams integrations, and AI-driven tools, alongside sector-specific solutions across industries such as healthcare, legal, and financial services.
“Intermedia has spent a decade building the right model to capture the opportunity in today’s cloud communications market by focusing on channel partners and the SMBs they serve,” said 26North Private Equity Partner Tyler Sipprelle.
“We intend to support Michael and his team as we take the business further through organic and inorganic investment.”
Michael Gold, who has led Intermedia for more than a decade, will continue to lead the business, with the existing management team remaining involved following the acquisition.
“This partnership with 26North marks an important step forward for Intermedia,” said Gold. “We have built the business around a model that aligns closely with our partners and customers, and that alignment is becoming even more relevant as AI opens new opportunities for how organizations communicate and operate.
We are grateful to Madison Dearborn for its partnership, and to our partners, customers and team who have been instrumental in building Intermedia into what it is today. We look forward to working with 26North to accelerate this progress in the years ahead.”
Madison Dearborn Partners also reflected on the company’s development during its ownership.
“We are incredibly proud of what the Intermedia team has accomplished during our partnership,” said Madison Dearborn Partners Managing Director Brendan Barrett.
“Over the course of our ownership, the company has built a highly differentiated platform, scaled a robust partner ecosystem, and consistently delivered strong growth in a competitive market. We believe Intermedia is exceptionally well-positioned to build on this momentum with 26North.”
The transaction is expected to close in the second quarter of 2026, subject to customary conditions.
Author: Hannah Swankie
Reviewed by: Robyn Coppell
Published On: 1st Apr 2026
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