Violle, along with NewSpring Capital, has acquired a majority stake in Utilipath. Financial terms weren’t announced. Mooresville, N.C.-based provides network solutions for service provider and enterprise networks.
ATLANTA, Aug. 20, 2013 /PRNewswire/ — Atlanta-based Violle, LLC and Radnor, PA based NewSpring Capital announced today the acquisition of majority interest in North Carolina based Utilipath, LLC, a nationally recognized provider of construction services in telecommunications infrastructure services based in Mooresville, NC. Utilipath, which was established in 2003, is a leading provider of Outside Plant Infrastructure Services (OSP) in the telecommunications infrastructure services segment. Utilipath has completed projects in over forty states and Canada and has twelve offices throughout the Mid-Atlantic and Southeast.
The transaction, which includes an investment by NewSpring Capital, results in the acquisition of a majority of the ownership interests in the company. “With the increasing demand for high speed data from wireless, data centers and cloud computing, we believe Utilipath is positioned to take advantage of this high-growth developing market as service providers attempt to upgrade the capacity and performance of their networks”, said Joaquin Luna, Managing Partner of Violle, LLC and CEO of Utilipath. “We look forward to building upon the strong foundation they have laid and continuing the legacy of Utilipath.”
“We considered a number of strategic alternatives before we decided on a transaction with Violle,” said Baxter Hayes, Principle and COO of Utilipath. “We are very pleased to have partnered with a team that brings such extensive experience growing business in the telecom sector.
In conjunction with the acquisition, Violle will be merged into Utilipath as a new division to be named Utilipath Fiber Networks. Utilipath Fiber Networks will provide turnkey dark fiber solutions including custom fiber builds and strategic route partnerships for Carrier, Wireless and Government customers in both the long-haul and metro markets.
About Utilipath, LLC
From the data center to the desktop, from the central office to the customer premise, from the head end to the home, Utilipath designs and deploys end-to-end network solutions for service provider and enterprise networks. For more information please visithttp://www.utilipath.com.
About Violle, LLC
Violle LLC is an Atlanta based telecommunications firm that provides carrier dark fiber services including engineering, deployment, maintenance and operations.” For more information on Violle, please see our website at www.violle.us
About NewSpring Capital
NewSpring Capital, based in Radnor, PA, is a leading provider of private equity capital focused in the Mid-Atlantic region. NewSpring Capital currently has over $950 million of assets under management. NewSpring Capital invests in dynamic companies with the goal of partnering with management teams to develop their businesses into market leaders. To learn more about NewSpring Capital, please visit www.newspringcapital.com.