Resilience Capital Partners has acquired Mill City TEC, a provider of civil and electrical construction and maintenance services to the wireless industry. Mill City is the second add-on acquisition completed by Aero Communications since being acquired by Resilience in October 2012.
Mill City Communications specializes in providing wireless network services, including cell tower infrastructure upgrades and maintenance, to telecommunications companies and related service partners. The company employs approximately 130 civil and electrical engineers, licensed electricians, construction professionals, project managers and related support personnel operating throughout the Upper Midwestern United States. Mill City is headquartered in Minneapolis (www.millcitytec.com).
Aero Communications provides system design and engineering, construction, wiring, installation, maintenance and repair services to broadband and wireless providers, businesses, public venues, government facilities and residential subscribers. The company employs approximately 1,000 technicians, engineers, customer service and related support personnel in field offices throughout 12 states. Aero Communications was founded in 1983 and is headquartered in Canton, MI (www.acidirect.com).
“We welcome the entire Mill City organization to Aero and Resilience. This is a perfect example of a wonderful company in its geography joining forces with a national wireless and cable communication and infrastructure service company to better serve its customers,” said Steven Rosen, Co-CEO of Resilience Capital Partners. “Aero will continue to expand its geography through investment and acquisition in support of its customers in 2014.”
Resilience Capital Partners specializes in investing in middle market companies with $25 million to $250 million in revenues across a range of industries. The firm’s investment strategy is to acquire companies in a variety of special situations including underperformers, corporate divestitures, turnarounds, and orphan public companies. Since its inception in 2001, Resilience has acquired 36 companies under 21 platforms with over $2 billion in revenues. The firm is based in Cleveland (www.resiliencecapital.com).
“The Mill City investment represents a significant step forward in the execution of Aero Communications’ acquisition growth strategy of purchasing businesses with experienced in-house wireless network and construction professionals who provide market-leading services to blue-chip cable and telecommunications customers throughout the United States,” said Michael Cavanaugh, a Partner at Resilience Capital Partners.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-15-14
