Crestview-Backed Congruex Acquires White Construction
Acquisition further solidifies Congruex's position as one of the largest end-to-end telecom engineering and construction platforms in the United States
Nov 20, 2018, 09:00 ET
BOULDER, Colo., Nov. 20, 2018 /PRNewswire/ -- Congruex, a national end-to-end provider of design, engineering, construction management and maintenance services to broadband service providers, today announced the acquisition of White Construction Co., Inc. ("White" or "White Construction"). Financial terms of the transaction were not disclosed.
Founded in 1995 in Beaver Dam, Wisconsin, White Construction is a telecom-focused self-perform construction company, specializing primarily in underground construction work with particular expertise in fiber-to-the-home, fiber-to-the-premises, and fiber optic interconnect projects. White Construction also has aerial, splicing, and cutover capabilities.
Congruex's acquisition of White follows its purchases of CCLD Technologies and CHC Consulting in late 2017, which positioned Congruex as one of the largest pure telecom engineering firms in the United States with expanded scale and resources. The acquisition of White adds self-perform construction capabilities and further enables Congruex to provide end-to-end, turn-key engineering and construction services for its customers.
These acquisitions followed Congruex's partnership with Crestview Partners, a New York-based private equity firm with significant experience in the cable, telecommunications and business services industries. In 2017, funds managed by Crestview and the Congruex leadership team committed $200 million of equity to build out the new platform, as part of what is expected to be a total investment of approximately $500 million.
Bill Beans, Congruex's CEO, said, "We are pleased to announce the acquisition of White Construction, a firm with distinct expertise in OSP construction in the upper Midwest. We welcome Adam and Abe White and the entire White team to the Congruex platform."
Adam White, President of White Construction, said, "We are excited to begin our partnership with Congruex and to grow our business even further. We look forward to leveraging Congruex's operational expertise and capital resources as we continue providing innovative and efficient construction services to our customers."
Congruex was formed in mid-2017 by industry executives, Bill Beans and Kevin O'Hara, in partnership with Crestview Partners. Congruex is comprised of seasoned industry executives bringing together leading engineering and construction companies across the U.S. Congruex is building a company with unique capabilities that include network development, engineering, construction and operations. Our customers benefit from the integrated skills that the Congruex companies can offer either as a single discipline, or as a turn-key solution with self-perform capabilities. For more information: www.congruex.com
About White Construction
Founded in 1995 in Beaver Dam, Wisconsin, White Construction is a telecom-focused self-perform construction company, specializing primarily in underground construction work with particular expertise in fiber-to-the-home, fiber-to-the-premises, and fiber optic interconnect projects.
About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $8 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: media, industrials, energy and financial services. For more information: www.crestview.com.
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