Resilience Capital Partners has acquired CableNet Services Unlimited. Financial terms weren’t announced. Philadelphia-based CableNet provides cable fulfillment services in the Freedom Region of Pennsylvania and New Jersey.
CLEVELAND, Aug. 27, 2013 /PRNewswire/ — Resilience Capital Partners, a Cleveland-based private equity firm, has announced the acquisition of CableNet Services Unlimited, a provider of cable fulfillment services in the Freedom Region of Pennsylvania andNew Jersey, by its newly-formed company, CableNet Communications. CableNet Communications is Resilience Capital Partners’ first 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 “I suspect CableNet is the first of many great companies Aero Communications will invest in. Our firm is committed to building out this business and investing capital in support of the Aero Communications’ team and this platform.” Michael Cavanaugh, a Partner at Resilience Capital Partners, added “The CableNet acquisition highlights our commitment to investing additional capital in valuable assets to strengthen Aero Communications’ business partnership with key customers in existing and new geographies.”
Greg McCray, CEO of Aero Communications, stated “We will grow our company by offering our customers a superior service, and we intend to do so by having the most experienced, dedicated and professional management team in the communication services industry. Our new acquisition of CableNet provides us the management talent, world-class technicians, and a like-minded philosophy of focusing in a performance, metric-driven way on our customers. This partnership with CableNet matches Aero Communications’ strategy of growing our national footprint for our customers while providing them the additional service and support capabilities for their networks and end-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 31 companies under 20 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 1,100 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 visitwww.aerocommunications.com.
About CableNet Communications Headquartered in Philadelphia, Pennsylvania, CableNet Communications employs approximately 250 technicians, managers and related support personnel in three field offices throughout the Freedom Region of Pennsylvania and New Jersey. CableNet Communications specializes in providing residential and commercial cable fulfillment services to a leading Multi-System Operator in the Freedom Region. For more information, please visit www.cablenetservices.com.