Cleveland private equity firm Resilience Capital Partners has acquired Mill City TEC as an add-on to its Aero Communications platform. No financial terms were disclosed. The company will now be called Mill City Communications. Based in Minneapolis, Minnesota, Mill City Communications is a provider of wireless network services to telecom companies.
CLEVELAND, Jan. 15, 2014 /PRNewswire/ — Resilience Capital Partners, a Cleveland-based private equity firm, has announced the acquisition of Mill City TEC, a provider of civil and electrical construction and maintenance services to the wireless industry in the Upper Midwestern United States, by its newly-formed company, Mill City Communications. Mill City Communications is Resilience Capital Partners’ second add-on acquisition by its Aero Communications investment platform, which it acquired in October 2012. Aero Communications is a leading provider of customer-focused technology solutions to broadband and wireless providers, businesses, public venues, government facilities and residential subscribers.
Steven Rosen, Co-CEO of Resilience Capital Partners, stated “We welcome the entire Mill City organization to Aero and Resilience. This is a perfect example of a wonderful company in its geography joining forces with a national wireless and cable communication and infrastructure service company to better serve its customers. Aero will continue to expand its geography through investment and acquisition in support of its customers in 2014.” Michael Cavanaugh, a Partner at Resilience Capital Partners, added “The Mill City investment represents a significant step forward in the execution of Aero Communications’ acquisition growth strategy of purchasing businesses with experienced in-house wireless network and construction professionals who provide market-leading services to blue-chip cable and telecommunications customers throughout the United States.”
Greg McCray, CEO of Aero Communications, stated “Mill City is a preferred supplier of network construction services to the wireless industry. We’ve benchmarked many companies in the wireless network construction space, and we’re convinced that the leadership team, skilled work force, and several of Mill City’s processes are best-of-breed.” McCray continued, “This acquisition gives us the ability to do cell tower work in-house and also expands our geographic footprint. We’re enthusiastic about what this means for our business, and more importantly, what this means for our customers.”
About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience Capital Partners invests in niche-oriented manufacturing, distribution and business service companies located in the Midwestern and Mid-Atlantic United States with sustainable market positions and a clear path to cash flow improvement. Resilience Capital targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company’s operations, competitive positioning and profitability. Since its founding in 2001, Resilience Capital has invested in 36 companies under 21 platforms. Its portfolio companies today employ more than 5,000 people in 14 states and collectively represent over $2 billion in revenues. Resilience Capital manages in excess of $320 million for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds, wealth managers and investment consultants. For more information, please visit www.resiliencecapital.com.
About Aero Communications
Headquartered in Canton, Michigan, Aero Communications employs approximately 1,400 technicians, engineers, customer service and related support personnel in field offices throughout the United States. Aero Communications’ scope of services includes end-to-end system design and engineering, construction, wiring, installation, maintenance and repair solutions, serving leading telecommunications and cable service providers throughout the United States. For more information, please visit www.aerocommunications.com .
About Mill City Communications
Headquartered in Minneapolis, Minnesota, Mill City Communications employs approximately 130 civil and electrical engineers, licensed electricians, construction professionals, project managers and related support personnel operating throughout the Upper Midwestern United States. Mill City Communications specializes in providing wireless network services, including cell tower infrastructure upgrades and maintenance, to leading telecommunications companies and related service partners. For more information, please visit www.millcitytec.com .