Plymouth Township-based Verità Telecommunications Corp. has been acquired by Constructel Visabeira, the Portugal-based provider of telecom and energy engineering services backed by Goldman Sachs Alternatives. Details of the transaction were not released.
Verità is a wireline and wireless services company with more than $100 million in revenue. The deal is expected to be completed in the fourth quarter of the year.
Verità is Constructel’s 10th acquisition since 2021 in its core markets of France, U.K., Belgium, Portugal, Germany, and the U.S. The Verità acquisition is meant to give Constructel a strong platform in the large and growing U.S. telecom services market, doubling Constructel’s revenues in the U.S. to more than $250 million and balancing its U.S. business between energy and telecom engineering services.
Verità has approximately 500 employees and is engaged in engineering, construction, and maintenance of both fixed and mobile telecommunication infrastructures. With operations primarily in central U.S., Verita has achieved double digit revenue growth since 2021.
Verità’s expertise, paired with its client-centric approach and proficiency in delivering turnkey solutions, should align with Constructel’s growth strategy for the U.S. By using Verità’s established presence and capabilities, Constructel aims to deliver high-quality turnkey solutions to the growing fiber and 5G deployment landscape.
Verità’s current management team, under the leadership of Michael A. Falsetti, founder and CEO of Verità, will continue to lead the company with a focus on strong client relations, commitment to employees and partners, and focus on quality of delivery to drive the next wave of growth.
“This strategic partnership will allow us to accelerate our growth, not only by providing new opportunities to better serve our existing customers while facilitating new relationships, but also by fostering the digital and management transformation that was already taking shape,” says Falsetti.
According to Nuno Marques, CEO of Constructel Visabeira, the acquisition marks a milestone. It positions the company at more than $250 million in U.S. sales, while effectively balancing its growth across the U.S. Energy and Telecommunications sectors.
“As we execute our expansion strategy in the U.S., where we hold strong long-term ambitions, this investment will play a pivotal role,” says Marques. “Drawing on our shared values and common vision for the future, coupled with our deep understanding of Verità’s strong foundations, I am confident that we can leverage commercial and operational synergies to realize the broadband aspirations of our clients while advancing a trajectory of sustained profitable growth.”
