Marietta, Ga.-based BlueStream Professional Services, an affiliate of the century-old supply-chain company KGP Logistics, is acquiring the professional services business of TE Connectivity, an electronic component maker. BlueStream will continue to operate independently from KGP Logistics. The transaction is expected to close in April 2012. Terms of the transaction were not released by KGP, but reports have pegged the price at $23.5 million.
BlueStream Professional Services, LLC, an affiliate of KGP Logistics, has entered into a definitive agreement to acquire certain assets of the professional services business of TE Connectivity. BlueStream will operate independently of KGP Logistics. The transaction is expected to close in April 2012. Terms of the transaction were not released.
BlueStream, which will maintain a significant presence in Marietta, Georgia, is a woman-owned (WBE) market leading provider of engineering, furnishing, installation, and other outsourced services to the communications industry. BlueStream services its customers from 15 regional offices across the U.S., along with a national network of seven distribution and eight integration centers.
“While KGP has been providing EF&I services throughout the industry for over twenty years, this acquisition gives us the opportunity to scale and consolidate our services platform independently within BlueStream, allowing intense focus on each core business, while continuing to leverage KGP’s core supply chain, distribution and logistics market leading capabilities,” said Kathleen G. Putrah, BlueStream Chairman and CEO. “BlueStream will be focused on expanding support of existing customers, while developing stronger working partnerships with strategic OEMs and other Professional Services companies in the communications industry.”
The former TE Connectivity employees that transitioned with the business will become employees of BlueStream.
Livingstone Partners served as the exclusive financial advisor to KGP. Felhaber, Larson, Fenlon & Vogt, P.A. served as legal counsel.
About BlueStream Professional Services, LLC
BlueStream Professional Services, LLC is an affiliate of KGP Logistics, one of the country’s largest single-source, value added suppliers of supply chain services, wireless and wireline communications equipment to the communications industry. BlueStream provides complete integration and installation services nationwide, consisting of engineer, furnish, and install; assemble, wire and test; as well as product kitting, and CPE services.