Crestview’s Congruex Closes Fifth Buy
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Crestview’s Congruex Closes Fifth Buy

Congruex, a platform company formed by Crestview Partners to provide engineering, construction and maintenance services to broadband service providers and utility operators, has acquired Terra Technologies.

Congruex was formed by Crestview in May 2017 in partnership with Bill Beans and Kevin O’Hara, two experienced industry executives, to consolidate the fragmented engineering and construction services industry. Mr. Beans serves as CEO of Congruex and Mr. O’Hara serves as Executive Chairman. Congruex is headquartered in Boulder, CO (www.congruex.com).

Terra Technologies is a civil engineering and construction firm that specializes in the mandatory relocation of existing telecommunication lines within public infrastructure projects.

The company, led by President Bob Wegener, was founded in 2011 and is headquartered near Chicago in McHenry, IL (www.terratechllc.net).

“We are pleased to announce the acquisition of Terra Technologies, a company that provides distinctive and specialized capabilities to help telecommunications operators mitigate the cost and disruption that can arise from public infrastructure projects,” said Mr. Beans. “The acquisition of Terra furthers our strategy to become one of America’s largest end-to-end telecom engineering and construction platforms and to build out a robust suite of value-added capabilities.”

The buy of Terra Technologies is the fifth acquisition that Congruex has completed in partnership with Crestview. The four earlier buys were Buford, GA-based CCLD Technologies and Orange, CA-based CHC Consulting in 2017; Beaver Dam, WI-based White Construction in 2018; and Minneapolis-based Veterans Underground in 2019.

Crestview invests from $100 million to $250 million in companies with enterprise values up to $3 billion. Sectors of specific interest include media, industrials, energy and financial services. The firm will invest in other industries where its relationship network and senior operating capabilities provide an advantage.  Crestview, founded in 2004 and headquartered in New York, manages funds with over $9 billion of aggregate capital commitments (www.crestview.com).

© 2019 Private Equity Professional | June 24, 2019

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