Crestview Partners-Backed Congruex Acquires HHS Construction
-- HHS Construction represents Congruex's sixth acquisition in less than two years --
-- Further positions Congruex as one of the largest end-to-end telecom engineering and construction platforms in the United States --
ONTARIO, Calif. and BOULDER, Colo., Aug. 1 2019 /PRNewswire/ -- Congruex, a national end-to-end provider of design, engineering, construction, construction management and maintenance services to broadband service providers, today announced the acquisition of HHS Construction, LLC and HHS Communications, LLC (collectively 'HHS Construction'). Financial terms of the transaction were not disclosed.
Founded in 2003, HHS Construction is a leading provider of infrastructure services to major telecommunications and cable providers primarily in Southern California and adjacent geographies. HHS Construction's core capabilities include aerial, underground and substructure self-perform construction; telecom engineering; placement and splicing of fiber optic cables; and pole maintenance. HHS Construction is headquartered in Ontario, California.
HHS Construction is the sixth acquisition that Congruex has completed since establishing a partnership with Crestview Partners, a leading New York-based private equity firm with significant expertise in the cable, telecommunications and business services industries. In 2017, funds managed by Crestview Partners, along with the Congruex leadership team, committed $200 million of equity to build out a new platform as part of what is expected to be a total investment of approximately $500 million. The acquisition of HHS Construction follows the prior purchases of CCLD Technologies and CHC Consulting in late 2017, White Construction in 2018, and Veterans Underground and Terra Technologies in 2019. These transactions have positioned Congruex as one of the largest telecom engineering and construction firms in the United States, bringing expanded scale and resources to its growing customer base.
Bill Beans, Congruex's CEO, said, "We are excited to announce the acquisition of HHS Construction, a company that provides critical services to major telecommunications and cable TV providers in Southern California and adjacent areas. HHS Construction's services include aerial, underground and substructure construction, along with engineering and core maintenance services. The addition of HHS Construction further strengthens our turn-key capabilities in this economically important region and expands our relationships with numerous broadband service providers. We welcome HHS Construction's team to the Congruex platform as we continue executing on our nationwide strategy."
Kevin Knoblock and Steven Schwing, Co-Founders of HHS Construction, added, "We look forward to partnering with Congruex to support the ongoing success and future growth of our business. Congruex has built a differentiated and compelling platform, and we are excited to leverage their operational expertise and capital resources in pursuing the next phase of HHS' development."
Congruex was advised by Berg Hill Greenleaf Ruscitti LLP. Advisors to the sellers were Sklar Kirsh LLP and Intrepid Investment Bankers LLC.
About Congruex
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, mandated road moves, maintenance 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 Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $9 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, please visit www.crestview.com.
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SOURCE Crestview Partners
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