TriStruX Announces New Investment from Huron Capital
CLIFTON, N.J., Dec. 23, 2021 /PRNewswire/ — TriStruX, a leading provider of telecom infrastructure services to wireless carriers, cable companies and OEMs, has been acquired by leading middle-market private equity firm, Huron Capital.
TriStruX is the result of the 2020 merger of Telcom Engineering Group (“TEG”), Leone Electric Corporation (“LEC”) and High Point Utilities (“HPU”). The founders of the companies, Francisco Pena, Nicholas J. Leone, Craig Langenbach and Scott Palmenberg, will remain with the company in key management roles and maintain minority equity stakes in the merged company.
TriStruX is a national provider of telecommunications infrastructure services for macro cell towers and 5G wireless, underground and overhead fiber, and power and electrical services installation and maintenance services. The company’s key clients include the largest leading US telecommunications and cable companies. Since the 2020 combination, the company has significantly expanded its business in the Northeast, California, Southeast and Midwest markets, grown company revenue significantly in 2021 over 2020 and prepared to open 4 new markets in 1Q 2022.
“Huron’s investment will help us grow to be one of the strongest Telecom services providers in the market. I am so proud of the quality company we have built, but we are stronger and more nimble with Huron’s backing”, said Nicholas J. Leone, Vice Chairman and Chief Operating Officer. “Our clients are telling us to grow faster and bigger but not lose the quality and “can do” success we bring to them. This combination with Huron ensures we can accomplish that and will result in more and better service to our clients.” said Frank Pena, Chairman of the Board.
“We are very pleased to launch a Telecom Infrastructure Services Platform with the acquisition of TriStruX”, said Huron Managing Partner Jim Mahoney. “The Infrastructure Services market is very early in the investment cycle of building wireless telecom and fiber capabilities to deliver 5G services across the US. Huron is excited to support TriStruX’s track record of high-quality service delivery and deep focus on safety with access to capital and management support.”
Industry veteran Gene Callahan will join the Company’s Board of Directors. Randall P Muench, current CEO of TriStruX will continue to serve as CEO of the merged company. “Significant organic growth and crossing the $100M revenue level was an excellent year but we are just getting started.” said Muench. “Our team is laser focused on delivering quality wireless site installations and hundreds of miles of fiber at the scale that our clients expect and building a great place to work for our team. I’m especially excited to be on this journey with Huron who brings deep expertise in building scalable businesses and accelerating growth through M&A.”
About TriStruX, LLC
TriStruX, LLC provides comprehensive turnkey telecommunications service solutions across the continental United States. Our mission is to provide the highest level of quality and excellence as a turnkey solution provider, building telecommunications infrastructure (5G, fiber installation, macro tower services, DAS) in our key markets. As a national, scaled service provider, we successfully compete in the telecommunications, power/electrical, utility, venue and regional / state / local government space. In 2020, the principals of Telcom Engineering Group (founded in 1991), Leone Electrical Company (founded in 1977) and High Point Utility merged to create TriStruX. Visit www.tristrux.com to learn more.
About Huron Capital
Founded in Detroit in 1999, Huron Capital (“Huron“) is an operationally focused private equity firm with a long history of growing middle-market companies through its proprietary ExecFactor® buy-and-build investment model. Huron prefers complex situations where it can help companies reach their full potential by combining its operational approach, substantial capital base, and transaction experience with seasoned operating executives. An early pioneer of the buy-and-build approach, Huron has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in over 235 companies, and its portfolio companies have employed over 11,000 people throughout North America. The Huron buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron invests control equity in fundamentally sound companies that can benefit from the firm’s operational approach to creating value. Huron focuses on niche segments within the commercial & industrial services, professional services and consumer services sectors. For more information, please visit: www.huroncapital.com.
TRISTRUX MEDIA CONTACT:
Rhiana Sanchez, TriStruX Marketing
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SOURCE TriStruX LLC