Congruex acquires UAV services company CCLD
A company called Congruex, which was established to build a nationwide platform that delivers a variety of services to broadband service providers and utility operators across the country, including end-to-end engineering, construction and maintenance services, has acquired an outside plant (OSP) telecommunications contracting firm called C.C.L.D. Technologies (CCLD).
Based in Buford, Georgia, CCLD operates across four lines of business, one of which is UAV services.
“We are eager to begin our partnership with Congruex to further accelerate our growth, industry capabilities and resulting market share,” says Brett Burke, Chief Executive Officer of CCLD.
“Congruex's executives share our strategic vision and deeply respect our firm's distinct culture and innovative spirit. Collectively, we will all benefit from this transaction, particularly our employees, business partners and the client communities that we service.”
A leader in emerging technologies, CCLD has developed innovative applications of Light Detection and Ranging (LiDAR) for OSP engineering.
The firm, which was founded in 1999, also participates in engineering and construction of large project work for a lot of the top broadband providers in the United States.
“We are pleased to announce our first acquisition and look forward to working closely with CCLD as we build a best-in-class engineering and construction management platform,” says Bill Beans, Chief Executive Officer of Congruex.
“We are currently evaluating a host of further exciting acquisition opportunities that will empower Congruex to perform nationwide turnkey design, development and construction though our program management resource of outside plant fiber projects. In turn, Congruex will ultimately become one of the largest pure network engineering firms in the nation.”
Recently, Congruex formed a partnership with a New York-based private equity firm called Crestview Partners, which has a great deal of experience in cable, telecommunications and business services.
Funds managed by Crestview and the Congruex leadership team “have committed to fund $200 million of equity to the new platform as part of what is expected to be a total investment of approximately $500 million to consolidate the highly fragmented sector against a backdrop of increased broadband infrastructure spending.”