Telecon Group, a specialist in the design, construction, maintenance and repair of communications infrastructure, has purchased some assets and business activities from the wireless network construction unit of Netricom. The financial terms of the deal were not published. Founded in 1967, the Trois-Rivières, Québec-based Telecon is a portfolio company of Capital régional et coopératif Desjardins, a private equity fund managed by Desjardins Capital de risque, and pension fund manager the Caisse de dépôt et placement du Québec. The Caisse de dépôt and Desjardins made a joint $60 million investment in Telecon in Dec. 2011.
Telecon Group announces the acquisition of some assets and business activities of Netricom’s Wireless Network Construction Division
MONTREAL, Dec. 2, 2013 /CNW Telbec/ – TELECON Group, undisputed leader in the building of telecommunications networks, announced its acquisition of some assets and business activities of Netricom’s Wireless Network Construction Division. Netricom is a recognized pioneer in the telecommunications industry, as is its Wireless Network Construction Division
This acquisition will enable TELECON Group to further consolidate its leadership position in Quebec and Ontario, in addition to establishing a cross-Canada presence.
“As we announced upon my arrival in December 2012, our vision is to become a Canadian leader in the building of telecommunications and energy networks. This first transaction is therefore significant and we are all very proud. We are also pleased to welcome Netricom’s clients and employees to TELECON Group”, said André Héroux, President and CEO.
“Furthermore, this strategic acquisition will allow us to build synergy within our Wireless Division. It sets the stage for a series of transactions which will enable us to offer a host of fully integrated services to our loyal customers.”
About TELECON Group
Headquartered in Trois-Rivières with its administrative center in Pointe-aux-trembles, TELECON Group has been offering turnkey solutions as well specific and dedicated services for the design, locate, construction, maintenance and repair of telecommunications networks since 1967. Operating in Quebec and Ontario, its customers include major players in the telephony, cable television and Internet sector, as well as telecommunications network operators. The company has over 1,300 employees, including nearly 900 in Quebec. In 2011, Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec became majority shareholders and invested $60M in the company.
SOURCE TELECON Group
For further information:
Source: Alain Stafford, Vice-President, Wireless Division, Telecon
For further information:
Alain Bourget – Public Relations
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