USTC’s rapid organic growth and recent
acquisitions create market leader in broadband distribution
solutions
USTC Corp, Inc., a leading value-added distributor of
telecommunications materials, supply chain solutions, and technical
expertise announced today that it has acquired Comstar Supply,
Inc., a national distributor of outside plant material and
equipment for the broadband industry. With this transaction, USTC
Corp now operates seven distribution locations in the U.S., with
plans to significantly grow its service territory and customer
base. The financial terms of the transaction are not disclosed.
Founded in 2017 by Cédric Varasteh and backed by Washington,
D.C. headquartered global investment firm Carlyle (NASDAQ: CG),
USTC Corp is a leading one stop shop for all materials, product
design, and value-added distribution of passive and active
equipment and tooling from more than 1,000 global suppliers for
telecommunications, Hybrid Fiber-Coaxial (HFC), Fiber To The Home
(FTTH), Fiber To The x (FTTx), wireless, and data center
technologies, as well as supply chain management solutions. USTC
Corp is a trusted partner for all technical and logistics expertise
with extensive engineering and Broadband Fiber Networks
capabilities, and an experienced team of nearly 400 employees.
Comstar Supply was founded in 1994 with the goal of providing
the broadband industry with the necessary outside plant materials
and tools. Through its distribution centers in Philadelphia, PA and
Raleigh, NC, the Company serves a diverse customer base including
contractors, broadband and electric utilities, wireline and
wireless internet providers, cooperatives, and other CATV
companies.
This acquisition as well as the recent acquisition of Walker and
Associates allows USTC Corp to continue expanding its customer base
and footprint with seven locations for the combined entities across
New Jersey (including USTC Corp’s headquarters in Edison), North
Carolina, Pennsylvania, Texas and Nevada. USTC Corp is perfectly
positioned to serve customers quicker across the country with
greater flexibility and reliability needed to support network
deployments, upgrades, and maintenance, while enhancing their
supplier relationships.
For Comstar, the transaction provides an expanded portfolio of
products and technologies beyond its existing outside plant
inventory, and a comprehensive array of value-added solutions
including planning, product design, kitting and home delivery,
logistics services, as well as engineering capabilities.
Cédric Varasteh, Founder and CEO of USTC Corp, said: “We’re
thrilled to welcome the Comstar Supply team to the USTC family.
Together we can help solve our customers’ toughest problems with
our combined world-class distribution capabilities, technical and
engineering expertise, and best-in-class supply chain and logistics
solutions needed to quickly support network deployments, upgrades,
and maintenance, and further expand our one stop shop offerings
across our enhanced footprint. Our capabilities, end-to-end
solutions, and comprehensive product catalog, along with our seven
distribution locations across the U.S. enable us to offer the
flexibility and reliability needed to support our customers on a
regional and national scale with the added benefit of global
purchasing power.”
Chad Punchard, President of Comstar Supply, added: “Over 25
years ago, my father set out to build a company with a set of
morals and ethics that continue to guide and shape who we are
today, and I’m proud that USTC’s values and culture align
beautifully with ours. Both organizations are guided by the same
relentless pursuit of customer satisfaction, and with our extensive
customized solutions, together we’re uniquely positioned as a true
and trusted distribution partner to serve our diverse customer base
across the country.”
Vladimir Lasocki, Managing Director at Carlyle, and Cyril
Bourdarot, Director at Carlyle and Chairman of USTC Corp’s parent
group, said: “The capex trend in telecom is structurally growing
due to the increased need for broadband and our increasingly
connected economy. Our growth strategy with Cédric has been focused
on positioning USTC Corp as the ideal partner for all investment
needs, be they maintenance, upgrade or network roll-out for all
technologies (FTTH, HFC, mobile – particularly 5G, datacenter,
etc.). We are delighted with the significant progress made in the
U.S. with the Comstar and Walker and Associates transactions which
are both great additions to USTC Corp. This is building a business
of real scale and importance in the region while delivering a
complete offering that customers need and are valuing.”
Advisors on the transaction:
- M&A Advisor (Buy side): Bank Street Group LLC
- M&A Advisor (Sell side): Savran Benson LLP
- Legal Advisor (Buy side): DLA Piper
- Legal Advisor (Sell side): Blank Rome
About USTC Corp
USTC Corp is a leading one stop shop for all materials,
technical expertise, supply chain management solutions, and the
value-added distribution of passive and active equipment and
tooling from over 1,000 global suppliers for telecommunications,
HFC, FTTH, FTTx, wireless, and data center technologies. Founded in
2017 by CEO and Chairman of the Board, Cédric Varasteh, and
headquartered in Edison, NJ with expanded operations in Dallas,
Texas, USTC Corp recently acquired Walker and Associates, adding
additional locations in Winston Salem, North Carolina and Reno,
Nevada. With flexible delivery models, a plug-and-play approach,
and modular set of value-added services, USTC Corp believes that
customers deserve customization. Their experienced team of nearly
400 employees across 5 facilities in the U.S. are working hard
every day dedicated to customer satisfaction and reliability. To
learn more, visit www.ustc-corp.com and follow USTC Corp on
LinkedIn at www.linkedin.com/company/USTCcorp.
About Comstar Supply
Comstar Supply, Inc., was founded in 1994 with the goal of
providing the broadband industry with the necessary outside plant
material and tools. Through its distribution centers in
Philadelphia, PA, and Raleigh, NC, the company serves a diverse
customer base including contractors, broadband and electric
utilities, wireline and wireless internet providers, electric
cooperatives, and other CATV companies. Further information about
the company can be found online at www.comstarsupply.com and follow
Comstar Supply on LinkedIn at
https://www.linkedin.com/company/comstar-supply-inc-/.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep
industry expertise that deploys private capital across three
business segments: Global Private Equity, Global Credit and
Investment Solutions. With $276 billion of assets under management
as of June 30, 2021, Carlyle’s purpose is to invest wisely and
create value on behalf of its investors, portfolio companies and
the communities in which we live and invest. Carlyle employs nearly
1,800 people in 27 offices across five continents. Further
information is available at carlyle.com. Follow Carlyle on Twitter
@OneCarlyle
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version on businesswire.com: https://www.businesswire.com/news/home/20210809005717/en/
USTC Corp: Lindsay Hittner, Director of Marketing Phone:
+1 732-718-6283 Email: lindsay.hittner@ustc-corp.com Comstar
Supply: Dan Clifton, SVP of Marketing Phone: +1 610-831-5020
Email: dclifton@comstarsupply.com Carlyle: Andrew Kenny,
Head of EMEA Corporate Communications Phone: +44 7816 176120 Email:
andrew.kenny@carlyle.com
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