Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised SBS Services Holdings, LLC (doing business as Tachyon Communication Services; Tachyon), a portfolio company of MSouth Equity Partners (MSouth), on its merger with NEN Holdings, LLC (doing business as NextEdge Networks and Modus; NextEdge), a portfolio company of Bow River Capital (Bow River). Tachyon is a leading provider of wireless and wireline infrastructure services across the telecommunications field services industry going to market through four affiliates, NIS, Source Broadband, Summitt Cellular and Towersource. The transaction was led by Drew Spitzer, Matt White, Greg Waller, Thomas Saunders, and Kel Wilburn of the Harris Williams Energy, Power & Infrastructure (EPI) Group.
“We continue to see increased interest in the telecommunications sector. Investors are looking for innovative ways to capitalize on the buildout of 5G technology, and Tachyon’s market leadership and ability to successfully scale emerging telecommunications technologies created a unique opportunity for NextEdge and Bow River to tap into the ongoing buildout and add meaningful scale to their existing footprint,” said Matt White, a managing director at Harris Williams.
“The sale of Tachyon adds to the robust momentum we are seeing in the telecom services sector and further complements our strong resume of advising market leaders in the space,” added Drew Spitzer, a managing director at Harris Williams. “We look forward to watching the combined growth of Tachyon and NextEdge as these two great businesses continue to deploy leading telecom services capabilities for both regional and national customers across the network infrastructure lifecycle.”
“Chris Amato, CEO of Tachyon, and his team have assembled an impressive platform, and we are excited about the potential that a combination between these two market leaders will bring to the evolving telecom market,” added Greg Waller, a director at Harris Williams. “It was a pleasure working with the teams at Tachyon and MSouth on this transaction, as well as with the teams at NextEdge and Bow River.”
Tachyon is based in Norcross, Georgia and provides design, construction, optimization and maintenance services for owners and operators of fiber and wireless network infrastructure. The company’s principal market includes the Southeastern United States, with targeted customer programs in surrounding regions. Tachyon serves as a prime contractor to several blue-chip customers and is well-positioned to address the increased need for communications infrastructure, driven by rapidly expanding wired and mobile broadband data consumption. The combination of both businesses creates a coast-to-coast turnkey telecommunications service provider of unique scale and capability.
MSouth is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower-middle market companies typically valued between $25 million and $200 million. Based in Atlanta, with an office in Nashville, Tennessee, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, specialty distribution, niche manufacturing, healthcare services and telecommunications/media companies. With over $2.2 billion under management across four funds, MSouth is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984.
NextEdge is a leading 5G infrastructure services company that focuses on identifying, designing, engineering, constructing, installing and maintaining 5G small cell networks. Modus has deployed thousands of wireless telecommunications facilities in the most challenging municipalities in the Western United States and has emerged as an industry leader in designing, building, retrofitting and modifying these networks not only to the satisfaction of its customers but also the communities in which it works.
Founded in 2003, Bow River is a private alternative asset management company based in Denver focused on investing in the lower-middle market in three asset classes, including private equity, real estate and software growth equity. The Bow River private equity team focuses on partnering with infrastructure services, business services, and healthcare services businesses in the lower-middle market.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams EPI Group has significant experience advising market leading providers of technology, services, and products across a broad range of sectors. These sectors include energy management; infrastructure services; utility services; testing, inspection, and certification services; environmental services; engineering and construction; power products and technology; and energy technology. For more information on the Group’s experience, please visit the EPI Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: email@example.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.