Congruex, a platform company formed by Crestview Partners to provide engineering, construction and maintenance services to broadband service providers and utility operators, has acquired its first company with the buy of CCLD Technologies.
Congruex was formed by Crestview in May 2017 in partnership with Bill Beans and Kevin O’Hara, two experienced industry executives. The Boulder, CO-based group is targeting a consolidation of the fragmented engineering and construction services industry via acquisitions and organic growth based on the assumption that robust spending on communication networks and utility infrastructure is expected to continue for the foreseeable future. Crestview and the Congruex senior management team are committing up to $200 million of equity as part of what is expected to be a total investment of approximately $500 million. Mr. Beans serves as CEO of Congruex and Mr. O’Hara serves as Executive Chairman (www.congruex.com).
CCLD is an outside plant (OSP) telecommunications contracting firm that operates four lines of business: construction, engineering and design, unmanned aerial vehicle (UAV) services, and disaster recovery network services. The company’s customers include many of the top broadband providers in the US such as AT&T and Verizon. CCLD, led by CEO Brett Burke, was founded in 1999 and is headquartered 40 miles northeast of Atlanta in Buford, GA (www.ccldtech.com).
“We are pleased to announce our first acquisition and look forward to working closely with CCLD as we build a best-in-class engineering and construction management platform,” said Mr. Beans. “We are currently evaluating a host of additional acquisition opportunities that will empower Congruex to perform nationwide turnkey design, development and construction through our program management resource of outside plant fiber projects. In turn, Congruex will ultimately become one of the largest pure network engineering firms in the nation.”
Crestview Partners 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. Crestview, founded in 2004 and headquartered in New York, manages funds with over $7 billion of aggregate capital commitments (www.crestview.com).
© 2017 Private Equity Professional | November 7, 2017
Tri Con Works, a provider of landfill related environmental services and a portfolio company of Aperion Management since 2014, has acquired Diamondback Works, a provider of specialty construction services to the petrochemical industry.
Tri Con Works is an environmental services provider specializing in the construction and maintenance of landfill gas monitoring, collection and recovery systems, as well as leachate systems. Landfill gas such as methane is a by-product of the disposal of municipal solid waste in landfills and can lead to the release of greenhouse gases into the atmosphere. The monitoring, collection and recovery of landfill gas is a vital part of waste management from an environmental and safety perspective, and the related conversion of landfill gas into energy is a significant contributor of renewable fuel. Leachate systems collect contaminated liquid materials that have drained from landfills or other stockpiled materials. Tri Con Works was founded in 1998 and is headquartered in Houston (
