King of Prussia, PA – October 16, 2018 – UniTek Global Services, Inc. (“UniTek” or the “Company”), a leading provider of essential installation and field services for North American telecom providers, today announced it has acquired Southern Diversified Technologies, Inc. (“SDT”), a leading North American telecommunication infrastructure services firm based in Mississippi. Terms of the transaction were not disclosed.
The acquisition represents UniTek’s fourth strategic acquisition under entities managed by Littlejohn & Co., LLC, and New Mountain Finance Corporation (NYSE: NMFC), and establishes the Company as a leading provider of communications infrastructure and related services. UniTek offers major providers of broadband connectivity the local knowledge and expertise required to deliver customized and precise builds on time and on budget, together with the capabilities and resources of its national platform.
“This is an important step in UniTek’s evolution as we execute on our strategy to grow and invest alongside the nation’s telecom infrastructure,” said Dan Yannantuono, CEO of UniTek. “Over the past several years, UniTek has transformed into a multi-faceted engineering and construction platform and best-in-class field services organization. We are excited to welcome Charlie Smith and SDT’s highly-skilled workforce to UniTek, in furthering our ambition to provide our customers with unrivaled support and services required to compete and innovate in a rapidly expanding market for ultra-broadband services.”
UniTek’s previous acquisitions include:
- GW Communications, LLC, completed in June 2017: established a platform for UniTek’s rapidly growing market in engineering, construction, installation and maintenance services for broadband fiber and wireless technologies; and
- Graycliff Enterprises, Inc. and affiliate Hutchins Telecom, completed in August 2018: bolstered UniTek’s presence in the fiber E&C market across the Carolinas, Georgia, Kentucky, Tennessee and Arizona, and expanded its fiber, cable construction, wireless technology & utility locates capabilities.
John Kline, President and COO of New Mountain, a board member and significant shareholder in UniTek, added, “The need for telecommunications infrastructure investment has accelerated as consumers demand high-speed internet connectivity, broadband, data transmission, and advanced video services. Accordingly, we believe UniTek is well-positioned to benefit from faster upgrade cycles and significant anticipated capital spend by telecommunications providers. We are pleased to continue to support Dan and UniTek as they continue to grow.”
Acquest International served as financial advisor and Pepper Hamilton LLP served as legal advisor to UniTek.
About UniTek Global Services, Inc.
UniTek Global Services is a communications solutions firm, providing end-to-end, world-class solutions to its clients. Its customers are in the wireless, satellite and cable, transportation, education, government, high-occupancy buildings, entertainment and hospitality sectors. For more information, please visit: https://www.unitekglobalservices.com/
About Southern Diversified Technologies, Inc.
Established in 1993 and headquartered in Brookhaven, Mississippi, Southern Diversified Technologies, Inc. is a telecommunication infrastructure services firm with services that include: network planning, design, development, installation, test, turn-up and maintenance for both wireline and wireless carriers. These services enable America’s leading communications companies to deliver reliable, world class products and services to their end consumers every day. Our team’s deep industry knowledge and constant focus on innovation, quality and customer satisfaction allow us to provide end-to-end services on time and on budget, every time. For more information, please visit: https://sdt-1.com/
About New Mountain Finance Corporation
New Mountain Finance Corporation is a closed-end, non-diversified and externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure. The Company’s investment activities are managed by its Investment Adviser, New Mountain Finance Advisers BDC, L.L.C., which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.
For UniTek Global Services:
Gasthalter & Co.