Huron Capital, a Detroit-based middle-market private equity firm, and its telecom infrastructure platform TriStruX, announced the acquisition of Hess Broadband, a fiber optic splicing and specialty construction services provider in Warwick, Penn.
“Our first add-on for this growing platform brings talented founders and a highly capable leadership team to TriStruX,” says Tony Pulice, a partner at Huron. “We’re excited to continue expanding TriStruX’s offerings into new geographies and we know Hess represents a critical opportunity to accelerate our value creation plan for the company.”
Hess, a fiber optic splicing and specialty construction services provider primarily serves customers in that Pennsylvania, Delaware, and New Jersey.
“Our cultural alignment, common vision for value creation and potential synergies with the TriStruX team make this partnership a natural fit, and I’m confident this will help accelerate our recruiting efforts and organic growth,” says Fran Hess, founder and president at Hess. “Huron and TriStruX represent a unique cultural fit for a small business owner, and our team is confident in the partnership and in the transparency we’ve been provided in this process.”
Founders Fran and Dave Hess will remain with the business in an executive leadership role and will continue to have a minority equity position in the company going forward.
TriStruX was acquired by Huron in 2021. Based in Clifton, N.J., TriStruX was formed by the 2020 merger of Telcom Engineering Group, Leone Electric Corp., and High Point Utilities. The majority owners of each business remained in key management roles with minority equity stakes in the company.
“We’re looking for founders and entrepreneurs who align with our vision and can help extend our business’ capabilities – and this is exactly what Hess will do for TriStruX’s service offerings,” says Randall P. Muench, CEO of TriStruX.
“We partnered with Huron due in large part to its buy-and-build expertise to help us identify, evaluate, acquire and integrate businesses like Hess in order to build a scaled, nationwide telecom infrastructure services platform.”
TriStruX provides a range of installation, upgrade, and maintenance services including macro cell towers and 5G wireless construction, underground and overhead fiber construction, and hardware decommissioning to the leading US-based telecommunications and cable companies.
The company has experienced strong organic growth expanding its business in the Northeast, California, Southeast, and Midwest markets, and continues to identify new regions for expansion.