Bow River Capital’s telecommunications services platform, NextEdge, completed the acquisitions of Atlanta-based SBS Services Holdings and its subsidiaries, Tachyon (a portfolio company of MSouth Equity Partners) and Las Vegas-based Spectrum Services. KeyBank Capital Markets served as lead left arranger and administrative agent and Citizens served as lead right arranger on a credit facility to support the transactions.
The acquisition creates a wireless and wireline telecommunications service provider with a coast-to-coast presence that will continue to play a role in the United States’ 5G and internet fiber buildouts.
“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,” Chris Maguire, CEO of NextEdge, said.
“The three businesses importantly share common founding principles, core values and cultures, providing a strong foundation for the combination,” Chris Wener, CEO of Spectrum, said.
“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 [more than 500] who are the absolute best this industry has to offer,” Chris Amato, CEO of Tachyon, said.
“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,” Greg Hiatrides, managing director at Bow River Capital, said.
“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,” Robert Fortier, vice president at Bow River Capital, said. “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. Greenberg Traurig served as legal counsel for Bow River Capital.