Hunter Street Partners (“Hunter Street”), a Minneapolis-based alternative investment management firm, and Five Crowns Credit Partners (“Five Crowns”) announced that they have sold their stakes in TriStruX, a leading provider of telecom infrastructure services to wireless carriers, cable companies, and OEMs, to a private equity firm.
TriStruX was founded as the result of a merger between Telecom Engineering Group (“TEG”) and Leone Electric Company (“LEC”). In November 2020, TriStruX acquired High Point Utilities (“High Point”), a regional broadband network construction and maintenance company. Hunter Street Partners and Five Crowns Credit Partners provided financing for both the merger and ensuing acquisition.
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TriStruX provides comprehensive turnkey telecommunications service solutions across the continental United States to leading US telecommunications and cable companies. The firm provides telecommunications infrastructure solutions for macro cell towers and 5G wireless, underground and overhead fiber, and power and electrical installation and maintenance. TriStruX provides services in more than 20 states, primarily along the eastern seaboard, including New York City, as well as the American Southwest and Texas.
“We were glad to help TriStruX reach its next stage of growth by providing flexible access to capital. Through acquisitions and organic growth driven by industry demand and operational focus, we were pleased to see the strong trajectory of the company,” said Neal Johnson, CEO and CIO at Hunter Street.
“We were at a stage where we wanted to enhance our service offerings and reap the competitive advantages achieved through economies of scale. We’d like to thank the Hunter Street and Five Crowns teams for the support and capital they provided to pursue these opportunities,” said TriStruX Chairman of the Board, Frank Pena. “Their advice and capital support helped us grow faster than the market over the last 2 years.”
“We’re pleased with our investment in TriStruX and our partnership with the firm’s leadership team. They have taken advantage of consolidation trends within the market to add service offerings within existing markets and accelerate growth in new markets, and we wish them the best in the next chapter of their growth,” said Andrew Platt, Partner at Hunter Street.
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