Resilience Capital Partners has acquired Fulton Technologies, a provider of maintenance and aftermarket services to the Midwest wireless industry. Fulton Technologies is the fourth add-on acquisition completed by Resilience’s Aero Communications platform, which was formed in October 2012.
“From the very early days of the Aero platform we understood the importance of reducing risk for our customers and being a world-class service provider; after four add-on investments, we believe we have accomplished that task and yet continue to seek out interesting owners and operators in the space who want a partnership with Aero and Resilience,” said Steven Rosen, Co-CEO of Resilience Capital Partners.
Fulton Technologies performs construction, repair, and maintenance of cell site and tower facilities for wireless carriers. Services provided by Fulton include site studies, radio frequency interference testing, inventory management, and other support services. Fulton also supplies civil alert systems and services to municipalities and utility companies. The company operates in Illinois, Wisconsin, Indiana, Michigan, Iowa, and South Dakota and is headquartered in the Chicago suburb of Roselle (no website found).
“Fulton is a truly exceptional company that provides high-quality niche maintenance and monitoring services to blue-chip wireless customers throughout the Midwestern United States. We are very excited to have such a talented group of professionals join the Aero team, and look forward to leveraging their unique capabilities to further strengthen and enhance our partnership with customers,” said Michael Cavanaugh, a Partner at Resilience Capital Partners.
In July 2014, Resilience completed its third add-on for Aero when it acquired Phoenix Installation Services, a provider of construction and maintenance services to the wireless industry. Phoenix provides underground and aerial construction, and fiber splicing to telecommunications companies operating throughout the Southwestern United States. The company is headquartered east of Dallas in Forney, TX (www.phoenixinstall.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 1,600 technicians, engineers, customer service and related support personnel. Aero Communications was founded in 1983 and is headquartered in Canton, MI (www.aerocommunications.com).
“We are always looking for strategic ways to enhance the value of Aero for its wireless customers, and the Fulton investment does just that,” said Mr. Rosen.
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 39 companies under 22 platforms with over $2 billion in revenues. The firm is based in Cleveland (www.resiliencecapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 8-18-14
