Sterling Partners has acquired World Fiber Technologies, a fiber optic network contractor.
World Fiber Technologies designs, engineers, constructs and maintains fiber optic, broadband, and wireless networks for companies in the telecommunications, intelligent transportation systems (ITS), open road tolling systems (ORT), and renewable energy business sectors. The majority of the company’s work is for local, state and federal agencies (primarily DOTs) and the private telecommunications industry. The company is prequalified, certified and licensed as a general utilities and electrical contractor in more than 30 states across the country. World Fiber Technologies was founded in 1997 by its CEO Mark Battle and is headquartered in Alpharetta, GA (www.worldfiber.com).
Under Sterling ownership, Mr. Battle will remain as CEO and the management team and employees will remain in place. “I am as excited about World Fiber’s future as I was the day I founded the company,” said Mr. Battle. “This partnership unlocks so much new opportunity both nationally and within our existing client base.”
“We believe telecommunications, renewable energy, ITS and tolling markets will see tremendous growth in the coming years and demand for Mark and his team’s industry experience, local expertise and exceptional work will increase exponentially,” said Mike Drai, a Managing Director at Sterling Partners. “Our partnership will allow World Fiber to meet and exceed demand with current clients and in new markets.”
Sterling Partners focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including healthcare and business services. The firm was founded in 1983 and has offices in Chicago and Baltimore (www.sterlingpartners.com).
© 2017 Private Equity Professional | September 25, 2017