Prairie Capital V, LP supported Tower Engineering Professionals (“TEP”) in its acquisition of Utilis Engineering (“Utilis”). The Utilis acquisition strengthens TEP’s industry-leading position in telecom engineering, maintenance, inspection and site acquisition services by adding Utilis’ expertise in fiber and small-cell projects.
The TEP and Utilis combination provides for a natural business and cultural fit given the existing relationship between the two companies and crossover between their customer bases. The acquisition of Utilis allows TEP to accelerate its service line expansion into the fiber optic engineering & services market, which is rapidly growing through significant investment by carriers, tower owners, internet service providers, local exchange carriers, government, and other private enterprises.
This highly strategic acquisition expands TEP’s capabilities to become a more turnkey service provider to its customers, broadens the platform’s channel reach, and offers meaningful cross-selling opportunities between both businesses. Utilis, its clients and employees benefit from the national scale and systems of TEP, its multiple offices, and licenses in every state. Additionally, the acquisition allows for the sharing of resources and best practices between the two companies to make for a more powerful and focused platform to better meet the needs of telecom customers, governmental agencies, and owners of fiber networks.
TEP is a national telecom engineering services firm with nearly 600 employees and offices in Raleigh, NC; Denver, CO; Phoenix, AZ; Charlotte, NC; Seattle, WA; Dallas, TX; Houston, TX; Tampa, FL; Indianapolis, IN; Nashville, TN; Portland, OR; Laurel, MD; Atlanta, GA and Rockaway, NJ.
For more information on Tower Engineering Professionals please contact:
Darren Snyder at dmsnyder@prairie-capital.com
Jeff Vranek at jvranek@prairie-capital.com