MILWAUKEE, June 1, 2020 – Borgman Capital, a Milwaukee-based private equity firm, welcomes Communication Builders, Inc. (“Communication Builders”) based in Illinois, from Common Sail Investment Group and Sky Telecom, Inc. (“Sky Telecom”) based in Georgia, from former owner Matt Hush. Joining the AscendTek Team, Communication Builders and Sky Telecom, are renowned for their work in critical telecommunications infrastructure, maintenance, and asset upgrades.With these acquisitions, AscendTek will be well positioned to compete on a much larger regional scale to capitalize on the rapid expansion of the wireless communications industry being driven by the 5G network infrastructure roll-out and asset upgrades.
“We’re very excited Communication Builders and Sky Telecom are joining AscendTek,” says David Bartelme, Managing Director at Borgman Capital. “These companies have dedicated and respected teams in the Midwest and Southeastern regions, which will pave the way for AscendTek to expand into new geographies, and thus serve our customers in a greater capacity.”
Andrew Deuter, Executive VP of Investments & Acquisitions at Common Sail Investment Group says they are excited to partner with Borgman Capital and AscendTek on this next phase of growth for Communication Builders. “Finding the right fit for the team at Communication Builders was our number one focus,” says Andrew. “We believe that we have found a partner in AscendTek, whose values, integrity, and team-based philosophy match our own.”
Rick Ploeckelmann, President of AscendTek feels the same way. “I’m thrilled to welcome Sky Telecom and Communications Builders into the AscendTek family. Their great leadership and reputations align perfectly with our culture and critical values of delivering projects safely and at the highest level of quality for our clients.”
Matt Hush, former owner and now General Manager of Sky Telecom Inc. believes the merger of the teams will increase the organization’s level of already exceptional customer service. “This merger of teams will increase our abilities to support our existing customers and new customers with the high demand of 5G’s infrastructure,” says Matt.
Associated Bank provided senior financing. Milwaukee-based Reinhart Boerner Van Deuren s.c. served as legal counsel. Accounting diligence and advisory services for the transaction were performed by Wipfli LLP.
ABOUT COMMUNICATION BUILDERS, INC.: Communication Builders, Inc. (CBI) is a general contracting company that provides telecommunication services. Since 1998, CBI has focused on delivering professional, reliable work for a broad range of customers including wireless carriers, broadcasters, local municipalities, public works, and others. Through years of hard work, CBI has established itself an industry-leading company, providing quality results in site installation, modification, technical services, maintenance, structural enhancements and more.
ABOUT SKY TELECOM INC.: Founded in 2016 by Matt Hush, Sky Telecom provides cell tower erection with a focus on safety, productivity, and quality in Georgia and across the southeast region. In 2017, Sky Telecom expanded their offering to include civil-related services.
ABOUT BORGMAN CAPITAL: Borgman Capital is a privately held investment firm focused on acquiring majority interests in established, closely held lower-middle market companies. We are a buy and hold investor, with a focus on profitable businesses with identifiable growth opportunities. Our strategy is to minimize the use of leverage in order to invest in and grow the portfolio long term. As an independent sponsor, we raise equity for each transaction. Our primary sources of funds are personal equity, accredited investors, and family offices. Visit our website at www.borgmancapital.com.