DETROIT–The middle-market private equity firm Huron Capital and TriStruX, a national provider of telecom infrastructure services to wireless carriers, cable companies, tower owners, and telecom manufacturers, announced the acquisition of Hess Broadband, a fiber optic splicing and specialty construction services provider.
TriStruX was acquired by Huron in 2021. Based in Clifton, N.J., TriStruX was formed by the 2020 merger of Telcom Engineering Group, Leone Electric Corp., and High Point Utilities. The majority owners of each business remained in key management roles with minority equity stakes in the merged company.
“We’re looking for founders and entrepreneurs who align with our vision and can help extend our business’ capabilities–and this is exactly what Hess will do for TriStruX’s service offerings,” said Randall P. Muench, CEO of TriStruX. “We partnered with Huron due in large part to its buy-and-build expertise to help us identify, evaluate, acquire and integrate businesses like Hess in order to build a scaled, nationwide telecom infrastructure services platform.”
TriStruX provides installation, upgrade, and maintenance services including macro cell towers and 5G wireless construction, underground and overhead fiber construction, and hardware decommissioning to U.S.-based telecommunications and cable companies. The company has experienced strong growth in the Northeast, California, Southeast and Midwest, and continues to identify new regions for expansion.
Hess, a fiber optic splicing and specialty construction services provider, is based in Warwick, Penn., and primarily serves customers in that state, Delaware, and New Jersey.
Founders Fran and Dave Hess will remain with the business in an executive leadership role and will continue to have a minority equity position in the Company going forward.
Founded in Detroit in 1999, Huron Capital partners with entrepreneurs and management teams, empowering their companies to new levels of excellence. We provide resources to help companies grow by professionalizing operations, improving service offerings, executing M&A strategies and accessing new markets. Huron Capital has managed over $1.8 billion on behalf of a global institutional investor base and has made more than 250 acquisitions since the firm’s inception.