Splicing Capabilities Augment Congruex’s Turnkey Broadband Design Build Expertise
Congruex Completes Fifteenth Strategic Acquisition Since 2017
BOULDER, Colo. and SCHAUMBURG, Ill., Oct. 18, 2021 /PRNewswire/ — Congruex, a national end-to-end provider of design, engineering, construction, and maintenance services to broadband providers, today announced the acquisition of Matrix Engineering, a deeply experienced leader in fiber engineering, splicing, and other key design and construction solutions. Financial terms of the transaction were not disclosed.
Headquartered in Schaumburg, Illinois, Matrix Engineering is a comprehensive provider of offerings for network operators including design and engineering, outside plant construction, fiber splicing, circuit testing, and network activation. Matrix Engineering’s leadership team collectively carries decades of experience in the telecommunications industry and strong relationships with its customers. With the addition of Matrix Engineering, Congruex further extends its leadership in network design and construction, and enhances its integrated platform with additional critical engineering and splicing expertise to support end-to-end services for many of the nation’s largest providers.
“As we continue to invest in our national footprint, our relentlessly customer-centric approach, and our unparalleled suite of services for broadband operators, Matrix Engineering is a natural and highly complementary addition to our platform,” said Bill Beans, CEO of Congruex. “I am truly pleased to build upon our position as the leading turn-key design-build solution provider by deepening our fiber splicing capabilities and engineering expertise and further cementing our connections with key Midwest markets. The team at Matrix Engineering has built a strong organization and we look forward to working with their entire organization to capture the substantial growth potential in front of us.”
“Having gotten to know Bill and the broader Congruex organization, we mutually recognize a tremendous opportunity to make an even greater impact with our customers,” John Bennett, CEO of Matrix Engineering, said. “By joining the market-leading Congruex platform, our highly experienced team will continue to pursue unmatched solutions for providers while building new capabilities and achieving greater scale.”
Congruex has now completed 15 strategic acquisitions since 2017, when it launched its platform in partnership with Crestview Partners, a leading New York-based private equity firm with significant expertise in the cable, telecommunications, and business services industries.
Congruex was advised by Berg Hill Greenleaf Ruscitti LLP. Matrix Engineering was advised by Ice Miller LLP.
About Congruex
Congruex was formed in late 2017 by industry executives Bill Beans and Kevin O’Hara in partnership with Crestview Partners. Congruex brings together leading engineering and construction companies across the U.S. into a harmonized platform with capabilities encompassing network development, engineering, construction, mandated road moves, maintenance, and operations. Congruex’s customers benefit from the integrated skills that it can offer, either as single disciplines or as a turnkey solution with self-perform capabilities. Congruex’s engineering and construction services operate nationwide. For more information, please visit www.congruex.com.
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations, and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: media, industrials, and financial services. For more information, please visit www.crestview.com.
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SOURCE Congruex
https://finance.yahoo.com/news/congruex-strengthens-leading-platform-acquisition-130000574.html
