DENVER, July 7, 2021 /PRNewswire/ — NextEdge Neworks (“NextEdge”) announced today that, with investment from private equity firm Bow River Capital (“Bow River”), it has completed the acquisitions of Atlanta-based SBS Services Holdings, LLC and its subsidiaries, a portfolio company of MSouth Equity Partners, (“Tachyon”) and Las Vegas-based Spectrum Services, LLC (“Spectrum”).
The transactions have created a premier turnkey wireless and wireline telecommunications service provider with a coast-to-coast presence that will continue to play an important role in the nation’s 5G and internet fiber buildouts, as well as Electric Vehicle charging station builds and Smart City IoT. These buildouts will be a key enabler of transformational changes across industries and radically improve how people and devices connect. The deployment of the next generation of wireless and wireline technologies has the potential to create upwards of one hundred thousand skilled jobs for Americans. Across the United States, NextEdge’s combined offerings provide comprehensive telecommunications infrastructure services, which address everything from site acquisition, installation, modification, and maintenance of small cell and macro sites, as well as fiber construction. The collective enterprise is uniquely positioned to continue to serve the needs of its customers and communities as it supports the deployment of the next generation of network technologies.
“Today is an exciting and transformational day for our companies, one that values the historic success of our collective operations and brings with it tremendous opportunity for our future accomplishments. Our combined companies will continue a legacy of customer centric innovation and service through an expanded platform of solutions supported by our highly experienced and dedicated workforce,” said Chris Maguire, CEO of NextEdge.
“The three businesses importantly share common founding principles, core values and cultures, providing a strong foundation for the combination,” said Chris Wener, CEO of Spectrum. “The complimentary nature of these businesses creates a company with a coast-to-coast footprint, including market presence in the largest wireless markets in the U.S. It also boasts full turnkey end-to-end wireless telecom services, including small cell and macro capabilities as well as wireline construction. All of these services will be performed by a combined team of 500+ who are the absolute best this industry has to offer,” added Chris Amato, CEO of Tachyon.
Bow River Capital seeks to invest in leading middle market companies that advance the country’s infrastructure by improving built environments and our network infrastructure. “The unification of these three businesses will strengthen our value-based customer approach by addressing complex network deployment challenges while simplifying the process for new and existing customers”, commented Greg Hiatrides, Managing Director at Bow River Capital. Robert Fortier, Vice President at Bow River Capital, commented, “the evolution of connectivity and communication all depend upon a densified next generation wireless network, and we are proud to partner with the companies that are helping make this a reality. On behalf of its customers and their communities, NextEdge solves the challenges of network deployment and densification. We look forward to continuing our journey with the NextEdge team.”
Harris Williams served as financial advisor to Tachyon.
KeyBank Capital Markets served as lead left arranger and administrative agent and Citizens served as lead right arranger on the credit facility for the transactions.
Greenberg Traurig served as legal counsel for Bow River.
About NextEdge: NextEdge is a leading provider of smart community infrastructure services, including telecom & network infrastructure, electric vehicle charging stations, fiber construction, and smart city IoT. NextEdge has deployed thousands of wireless telecommunications facilities in the most challenging municipalities across the United States, and has emerged as an industry leader in designing, building, retrofitting, and modifying infrastructure, not only to the satisfaction of its customers, but also the communities it serves.