MINNEAPOLIS, Jan. 4, 2022 /PRNewswire/ -- Hunter Street
Partners ("Hunter Street"), a Minneapolis-based alternative investment
management firm, and Five Crowns Credit Partners ("Five Crowns")
announced today that they have sold their stakes in TriStruX, a
leading provider of telecom infrastructure services to wireless
carriers, cable companies, and OEMs, to a private equity
firm.
TriStruX was founded as the result of a merger between Telecom
Engineering Group ("TEG") and Leone Electric Company ("LEC"). In
November 2020, TriStruX acquired High
Point Utilities ("High Point"), a regional broadband network
construction and maintenance company. Hunter Street Partners and
Five Crowns Credit Partners provided financing for both the merger
and ensuing acquisition.
TriStruX provides comprehensive turnkey telecommunications
service solutions across the continental United States to leading US telecommunications
and cable companies. The firm provides telecommunications
infrastructure solutions for macro cell towers and 5G wireless,
underground and overhead fiber, and power and electrical
installation and maintenance. TriStruX provides services in more
than 20 states, primarily along the eastern seaboard, including
New York City, as well as the
American Southwest and Texas.
"We were glad to help TriStruX reach its next stage of growth by
providing flexible access to capital. Through acquisitions and
organic growth driven by industry demand and operational focus, we
were pleased to see the strong trajectory of the company," said
Neal Johnson, CEO and CIO at Hunter
Street.
"We were at a stage where we wanted to enhance our service
offerings and reap the competitive advantages achieved through
economies of scale. We'd like to thank the Hunter Street and Five
Crowns teams for the support and capital they provided to pursue
these opportunities," said TriStruX Chairman of the Board,
Frank Pena. "Their advice and
capital support helped us grow faster than the market over the last
2 years."
"We're pleased with our investment in TriStruX and our
partnership with the firm's leadership team. They have taken
advantage of consolidation trends within the market to add service
offerings within existing markets and accelerate growth in new
markets, and we wish them the best in the next chapter of their
growth," said Andrew Platt, Partner
at Hunter Street.
About Hunter Street Partners
Hunter Street Partners is
a Minneapolis-based alternative
investment management firm that provides capital solutions to
operating partner teams and lower middle market companies across
corporate finance, real estate, and specialty finance. The firm is
focused on fundamentals-driven, asset-oriented credit and equity
opportunities. Learn more about Hunter Street Partners at
www.hunterst.com.
About Five Crowns Credit Partners
Five Crowns, a
Newport Beach-based investment firm, was founded in 2003 to make
value-driven equity investments in lower middle market businesses
with an opportunistic approach. Driven by compelling market
opportunities, the firm expanded into credit in 2016 to provide
flexible and creative financing solutions for acquisitions,
shareholder buyouts, dividend recaps, and various growth
initiatives.
About TriStruX, LLC
TriStruX, LLC provides
comprehensive turnkey telecommunications service solutions across
the continental United States. Our mission is to provide the
highest level of quality and excellence as a turnkey solution
provider, building telecommunications infrastructure (5G, fiber
installation, macro tower services, DAS) in our key markets. As a
national, scaled service provider, we successfully compete in the
telecommunications, power/electrical, utility, venue and regional /
state / local government space. In 2020, the principals of Telcom
Engineering Group (founded in 1991), Leone Electrical Company
(founded in 1977) and High Point Utility merged to create TriStruX.
Visit www.tristrux.com to learn more.
Contact for Hunter Street Partners
ir@hunterst.com
Media Contact for Hunter Street Partners
Zach Kouwe / Shree
Dhond
Dukas Linden Public Relations
hunterst@dlpr.com
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SOURCE Hunter Street Partners