Wesbell Secures Private Equity Sponsorship from FirePower Equity, Crédit Mutuel Equity and Trilogy Capital | 2021-06-21 | Press Releases
- The transaction will allow Wesbell to expand its service offering, its geographic footprint and execute its cell phone tower strategy as well as make strategic acquisitions
TORONTO , June 21, 2021 / CNW / – Wesbell Technologies and Wesbell Investment Recovery (“Wesbell” or “the Company”), a leading Canadian provider of telecommunications services, today announced the successful closing of a major equity investment in the company led by FirePower Equity, with Crédit Mutuel Capitaux associés and trilogy. The transaction will allow Wesbell to accelerate its strategy of continuous growth, to expand into new markets and geographies by North America and serve its operator customers even more efficiently as the telecommunications industry continues to transition to next-generation 5G networks.
The partnership will allow Wesbell to continue to provide its leading edge services and build a strong, comprehensive and reliable network of owned and operated wireless communications and broadcast infrastructure. These initiatives will also allow operators to achieve and maintain broad network coverage at a lower cost than building and owning the towers themselves.
“Today’s announcement is the culmination of a thorough search for the right strategic and financial partners with the vision, expertise and agility to drive the growth of our business,” said Nick mazze , President and CEO, Wesbell. “We are delighted to partner with our new investors and to deploy this capital to increase our presence in Canada and United States and further consolidate our position as a strategic partner for our customers, especially at this critical inflection point for the industry as it moves to 5G. ”
“We are really excited about this transaction and what it means for the Wesbell business. Nick and his team have built an incredible business with high quality assets and a very attractive position in the market as must-have problem solvers for customers’ critical network infrastructure needs. We look forward to working with them on the next chapter in their growth story, ”commented Anthony Lipschitz , partner at FirePower Equity.
“Wesbell is a leading telecommunications services company and a value-added partner for all of its North American carrier customers. We are delighted to partner with the company to expand its national platform and broaden its service offering, ”said Benoît Lacelle , director at Crédit Mutuel Equity.
“On behalf of the new group of owners, we would like to thank Stephen smith and his team at Meridian for their support and innovation, “commented Stephen reid of the trilogy.
Wesbell provides cell phone tower engineering, site acquisition, steel fabrication, installation and investment recovery services to a variety of operators, broadcasters and corporate clients. The company operates through Canada and east and center-west United States , with over 300 employees and a customer base that includes most of the major suppliers. The company plans to aggressively increase its presence in Canada and on the west coast of United States and seek opportunities for targeted mergers and acquisitions.
About FirePower Equity
Situated at Toronto and Montreal , with more than 35 professionals, FirePower Equity is the Private Equity branch of FirePower Capital. FirePower Capital invests, lends and advises from Canada entrepreneurs by helping them complete critical transactions. Our goal is to become the first resource business owner at the most important times.
For more information, visit www.firepowercapital.com
About Crédit Mutuel Equity
Crédit Mutuel Equity is the private equity subsidiary of Crédit Mutuel Alliance Fédérale and carries out risk capital, development capital and buyout activities.
Crédit Mutuel Equity supports business leaders at all stages of the development of their business, from the start-up phase to the takeover, by providing them with the means and the time necessary to implement transformation projects. Crédit Mutuel Equity brings together a network of more than 350 business leaders and entrepreneurs who share similar convictions and can benefit from everyone’s experience, whatever the nature of their projects. On equity (3.0 billion euros), Crédit Mutuel Equity makes investments adapted to the time horizons and growth strategies of the companies in which it invests, whether they are France , Canada , United States , Germany or Switzerland .
For more information visit www.creditmutuelequity.com
About Crédit Mutuel Alliance Fédérale
One of from France A leading bank-insurer, present through nearly 4,300 branches serving 26.7 million customers, Crédit Mutuel Alliance Fédérale offers a diversified range of services to individuals, local professionals and businesses of all sizes. Ranking among Europe strongest banking groups, its equity stood at 49.6 billion euros and its CET1 ratio at 17.8% December 31, 2020 .
* Crédit Mutuel Alliance Fédérale brings together the local Crédit Mutuel branches of the following federations: Center Est Europe (Strasbourg), South-East (Lyon), Île-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique and Center-Ouest (Nantes), Center (Orléans), Normandy (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand) and Antilles-Guyana (Fort-de-France). Crédit Mutuel Alliance Fédérale also brings together the Caisse Fédérale de Crédit Mutuel, the Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), TARGOBANK, Cofidis, European Credit Bank Mutuel (BECM), Banque Transatlantique and Homiris.
More information: www.creditmutuelalliancefederale.fr
About the trilogy
Calgary -based Trilogy Capital invests private capital in private companies seeking a committed partner to provide liquidity or growth capital.
The Wesbell Group of Companies Inc. is a private company. For more than 50 years, through its various subsidiaries, Wesbell has provided a wide range of services to the communications industry, including wireless construction, engineering, installation, outsourcing services in electricity, grid integration, investment recovery and recycling, as well as a full range of transportation, warehousing and logistics service offerings to all types of industries.
Visit www.wesbell.com or call 1 888 WESBELL
SOURCE The Wesbell Group of Companies
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