Unique Investment Corp. has agreed to sell portfolio company Diamond Wireless to Glentel Inc. (TSX: GLN), for around $50.5 million. Diamond Wireless is a Verizon Wireless retailer in the Western and Southern U.S. Harris Williams & Co. managed the sale process.
Harris Williams & Co. announces that Diamond Wireless (Diamond), a portfolio company of Unique Investment Corporation (Unique), has entered into a definitive agreement to be acquired by GLENTEL Inc. (GLN.TO) for approximately $50.5 million, representing 81.5% ownership. Harris Williams & Co. is acting as the exclusive advisor to Diamond. The transaction is being led by Craig Lawson, Vince Carey and Andrew Hewlett from the firm’s San Francisco Office.
Headquartered in Salt Lake City, UT, Diamond is a leading Verizon Wireless “Premium Retailer” in the Western and Southern U.S. Diamond operates 128 stores in 11 Western and Southern states. Diamond sells a broad array of wireless products and Verizon’s full suite of voice and data plans.
Unique is a private equity firm specializing in investments in small and middle market companies. The firm invests in all industries. Unique invests in companies based in Western United States. Founded in June 1993, Unique is based in Huntington Beach, CA.
GLENTEL, based in British-Columbia, Canada, is a leading provider of innovative and reliable telecommunications services and solutions across North America. Founded in 1963, GLENTEL is comprised of two operating divisions – retail and business – that service the needs of wireless consumers and commercial telecommunications customers across Canada. Together with its divisions, the company operates more than 280 locations across Canada located in retail malls and high pedestrian-traffic street-front locations, Costco Wholesale stores, and business centers. GLENTEL operates its business under the trading names Glentel Wireless, WirelessWave, The Telephone Booth (Tbooth and la cabine T) and WIRELESS etc.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two-decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.