Wesbell Technologies and Wesbell Investment Recovery, together a Toronto-based telecommunications services provider, has closed a growth investment. No financial terms were disclosed. The deal was led by FirePower Equity, with participation from Crédit Mutuel Equity and Trilogy Capital. Wesbell provides cell tower engineering, site acquisition, steel fabrication, installation and investment recovery services.
TORONTO, June 21, 2021 /CNW/ – Wesbell Technologies and Wesbell Investment Recovery (“Wesbell,” or “the company”), a leading Canadian telecommunications services provider, today announced the successful closing of a significant equity investment in the company led by FirePower Equity, with Crédit Mutuel Equity and Trilogy Capital. The transaction will enable Wesbell to accelerate its continued growth strategy, expand into new markets and geographies in North America and serve its carrier clients even more effectively as the telecommunications industry continues to transition to next-generation 5G networks.
The partnership will allow Wesbell to continue providing its industry leading services, and to build a strong, comprehensive, and reliable network of owned and operated wireless and broadcast communications infrastructure. These initiatives will also allow the carriers to achieve and maintain broad network coverage at a lower cost than that of building and owning the towers themselves.
“Today’s announcement is the culmination of an extensive search for the right strategic and financial partners with the vision, expertise and agility to supercharge the growth of our business,” said Nick Mazze, President & CEO, Wesbell. “We’re excited to partner with our new investors and deploy this capital to grow our presence in Canada and the United States and further cement our position as a strategic partner to our clients, particularly at this critical inflection point for the industry as it transitions to 5G.”
“We are truly excited about this transaction and what it means for Wesbell’s business. Nick and his team have built an incredible company with high quality assets and a very attractive market position as the go-to problem solvers for clients’ critical network infrastructure needs. We look forward to working with them on the next chapter of their growth story” commented Anthony Lipschitz, Partner at FirePower Equity.
“Wesbell is a top-tier telecom services business and a value-add partner to all its North American carrier customers. We are thrilled to be partnering with the company to expand its national platform and grow its service offering” said Benoit Lacelle, Principal at Crédit Mutuel Equity.
“On behalf of the new ownership group, we’d like to thank Stephen Smith and his team at Meridian for their support and innovation”, commented Stephen Reid of Trilogy.
Wesbell provides cell tower engineering, site acquisition, steel fabrication, installation, and investment recovery services to a variety of carrier, broadcast, and corporate clients. The company has operations across Canada and the eastern and midwestern United States, with over 300 employees and a client base that includes most of the major providers. The company plans to aggressively grow its footprint in Canada and into the west coast of the United States and to pursue targeted M&A opportunities.
About FirePower Equity
Based in Toronto and Montreal, with over 35 professionals, FirePower Equity is the Private Equity arm of FirePower Capital. FirePower Capital invests in, lends to and advises Canada’s entrepreneurs by helping them complete mission-critical transactions. Our objective is to become the first resource business owners turn to in the most important times.
For more information, visit www.firepowercapital.com