Harris Williams Advises Tachyon Communication Services on its Sale to NextEdge, a Bow River Capital Portfolio Company
July 07 2021 - 8:39AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised SBS Services
Holdings, LLC (doing business as Tachyon Communication Services;
Tachyon), a portfolio company of MSouth Equity Partners (MSouth),
on its merger with NEN Holdings, LLC (doing business as NextEdge
Networks and Modus; NextEdge), a portfolio company of Bow River
Capital (Bow River). Tachyon is a leading provider of wireless and
wireline infrastructure services across the telecommunications
field services industry going to market through four affiliates,
NIS, Source Broadband, Summitt Cellular and Towersource. The
transaction was led by Drew Spitzer, Matt White, Greg Waller,
Thomas Saunders, and Kel Wilburn of the Harris Williams Energy,
Power & Infrastructure (EPI) Group.
“We continue to see increased interest in the telecommunications
sector. Investors are looking for innovative ways to capitalize on
the buildout of 5G technology, and Tachyon’s market leadership and
ability to successfully scale emerging telecommunications
technologies created a unique opportunity for NextEdge and Bow
River to tap into the ongoing buildout and add meaningful scale to
their existing footprint,” said Matt White, a managing director at
Harris Williams.
“The sale of Tachyon adds to the robust momentum we are seeing
in the telecom services sector and further complements our strong
resume of advising market leaders in the space,” added Drew
Spitzer, a managing director at Harris Williams. “We look forward
to watching the combined growth of Tachyon and NextEdge as these
two great businesses continue to deploy leading telecom services
capabilities for both regional and national customers across the
network infrastructure lifecycle.”
“Chris Amato, CEO of Tachyon, and his team have assembled an
impressive platform, and we are excited about the potential that a
combination between these two market leaders will bring to the
evolving telecom market,” added Greg Waller, a director at Harris
Williams. “It was a pleasure working with the teams at Tachyon and
MSouth on this transaction, as well as with the teams at NextEdge
and Bow River.”
Tachyon is based in Norcross, Georgia and provides design,
construction, optimization and maintenance services for owners and
operators of fiber and wireless network infrastructure. The
company's principal market includes the Southeastern United States,
with targeted customer programs in surrounding regions. Tachyon
serves as a prime contractor to several blue-chip customers and is
well-positioned to address the increased need for communications
infrastructure, driven by rapidly expanding wired and mobile
broadband data consumption. The combination of both businesses
creates a coast-to-coast turnkey telecommunications service
provider of unique scale and capability.
MSouth is a private equity investment firm that provides equity
capital and expertise to support management teams in acquisitions
and recapitalizations of lower-middle market companies typically
valued between $25 million and $200 million. Based in Atlanta, with
an office in Nashville, Tennessee, MSouth invests primarily in the
South with a consistent focus on management buyouts of business
services, specialty distribution, niche manufacturing, healthcare
services and telecommunications/media companies. With over $2.2
billion under management across four funds, MSouth is a successor
to Cravey, Green & Wahlen, Inc., which was founded in 1984.
NextEdge is a leading 5G infrastructure services company that
focuses on identifying, designing, engineering, constructing,
installing and maintaining 5G small cell networks. Modus has
deployed thousands of wireless telecommunications facilities in the
most challenging municipalities in the Western United States and
has emerged as an industry leader in designing, building,
retrofitting and modifying these networks not only to the
satisfaction of its customers but also the communities in which it
works.
Founded in 2003, Bow River is a private alternative asset
management company based in Denver focused on investing in the
lower-middle market in three asset classes, including private
equity, real estate and software growth equity. The Bow River
private equity team focuses on partnering with infrastructure
services, business services, and healthcare services businesses in
the lower-middle market.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams EPI Group has significant experience
advising market leading providers of technology, services, and
products across a broad range of sectors. These sectors include
energy management; infrastructure services; utility services;
testing, inspection, and certification services; environmental
services; engineering and construction; power products and
technology; and energy technology. For more information on the
Group’s experience, please visit the EPI Group’s section of the
Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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