CHARLOTTE, N.C., July 11, 2017 (GLOBE NEWSWIRE) -- ETAK Systems, Inc. (“ETAK”), a portfolio company of Mosaic Capital Partners, LLC (“Mosaic”), has acquired an Ohio-based provider of wireless tower construction and site acquisition engineering services.
This acquisition comes after months of looking for the best strategic fit. The target company has strong, longstanding relationships with large wireless carriers and tower owners, is positioned for expansion and readily able to do so with the ability to add tower crews in weeks.
As the two companies integrate, the acquisition target will provide management oversight of ETAK’s tower construction projects in the Ohio Valley region, while ETAK will share its drone technology and 3D modeling capabilities with the target’s site acquisition projects for its existing customers. Additionally, this union allows ETAK to expand into more states than previously achievable. These diversifications should prove to protect the company in industry downturns.
ETAK Chief Executive Officer, Lee Priest, commented on the acquisition, “This is an exciting time for ETAK as we look to the future needs of our customers and the industry as a whole. We’re looking forward to serving the needs of the largest wireless carriers and tower owners with bigger and better capabilities.”
Mosaic Managing Partner Steve Buchanan added, “This acquisition is a great move for ETAK and marks the beginning of tremendous growth. Mosaic’s goal is to strengthen ETAK with the resources and guidance it needs to become a major player in the wireless communications industry.”
About ETAK Systems, Inc.
ETAK Systems, Inc. (“ETAK”) is a leading outsourced service provider to wireless carriers and tower owners for scheduled maintenance and installation activities for wireless communication infrastructures throughout the U.S. Based in Charlotte, NC, ETAK’s primary wireless communication infrastructure services include reserve battery power installation/replacement, power plant upgrades, capacity-expanding radio installations and tower construction services for leading carriers and tower owners. Specializing in a multitude of services related to communication infrastructure, ETAK also offers drone flight mapping services, site acquisition, engineering audits, small cell and distributed antenna system installations.
About Mosaic Capital Partners, LLC
Mosaic Capital Partners, LLC (“Mosaic”) is a $164 million private equity fund focused on lower middle market ESOP leveraged buyouts. The principals of Mosaic have substantial experience executing leveraged buyouts in the lower middle market, specifically businesses with $10 million to $100 million in revenue and have a unique expertise in ESOP leveraged buyouts, having executed over 100 ESOP transactions. Mosaic has offices in the Midwest and East Coast and is headquartered in Charlotte, NC. Mosaic aims to help business owners achieve liquidity, wealth transfer and ownership transition goals by offering capital and strategic guidance.