Huron Capital, a Middle-market private equity firm, had recently announced the accomplishment of the acquisition of TriStruX, a lead national provider of telecom infrastructure services to wireless carriers, cable firms, and the OEMs.
Incidentally, TriStruX is a Clifton, New-Jersey-based firm and it was formed in 2020 by the merger of the Telecom Engineering Group, Leone Electric Corporation, and High Point Utilities. As per the Huron Capital sources, the majority owners of these businesses, Frank Pena, Nick Leone, Craig Langenbach, and Scott Palmenberg will remain in core management roles and maintain minority equity stakes in the firm under Huron ownership.
Huron Managing Partner, James Mahoney, and industry veteran, Gene Callahan will join the firm’s Board of Directors. Randall P. Muench will continue to serve as CEO.
Operating across the United States, 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 firm’s core clients comprise the major leading US telecommunications and cable firms. Since the 2020 combination, the firm has significantly lengthened its business in the Northeast, California, Southeast, and Midwest markets, grown the firm’s revenue significantly in 2021 over 2020, and prepared to open 4 new markets in 1Q 2022.
Nicholas J. Leone, Vice Chairman and Chief Operating Officer of TriStruX stated: “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.”
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Frank Pena, Chairman of the Board commented on acquisition stating: “Our clients are telling us to grow faster and bigger but not lose the quality and \”can-do\” the 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.”
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Huron Managing Partner James Mahoney stated: “We are very pleased to launch a Telecom Infrastructure Services Platform with the acquisition of TriStruX. 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.”
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Randall P. Muench, CEO stated, “TriStruX experienced record growth in 2021 and we are just getting started. We are laser-focused on delivering quality wireless site installations and hundreds of miles of fiber at a scale our clients expect while continuing to be a great place to work for our employees. 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.”
The acquisition of TriStruX is Huron Capital’s sixth platform investment this year. Honigman LLP served as legal advisor to Huron Capital. Day Pitney LLP served as legal advisor to TriStruX.
