Lee Equity and Twin Point to take Tessco Technologies private

• The deal is expected to close in the third calendar quarter of 2023
• William Blair & Company L.L.C. is serving as financial advisor to Tessco
• Lee Equity Partners invests in healthcare services, financial services and business services

Lee Equity Partners and Twin Point Capital have agreed to buy Maryland-based Tessco Technologies, a wireless infrastructure products provider, in a take-private deal. The purchase price is about $161.4 million or about $9 per share.

The deal is expected to close in the third calendar quarter of 2023. When the deal closes, Tessco will stop trading on the NASDAQ.

“This deal is a win for Tessco shareholders and our customers,” said Sandip Mukerjee, Tessco’s president and CEO, in a statement. “The transaction price and premium reflect the success of our considerable turnaround efforts over the past three years, as well as Tessco’s current growth trajectory.”

William Blair & Company L.L.C. is serving as financial advisor to Tessco and Ballard Spahr LLP is acting legal counsel. Weil, Gotshal & Manges LLP, DLA, and Harter Secrest & Emery LLP are serving as legal counsel to Lee Equity Partners and Twin Point Capital.

Lee Equity Partners invests in healthcare services, financial services, and business services.

Twin Point Capital backs the communications, technology and technology-enabled service industries.