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PLATINUM EQUITY INVESTS IN TAK COMMUNICATIONSFirm to partner with TAK's current shareholders and management team, which will continue as equity partners in the business Transaction extends momentum of Platinum Equity's small cap team LOS ANGELES, March 22, 2024 /PRNewswire/ -- Platinum Equity announced today a significant investment in TAK Communications, a national provider of communications and broadband infrastructure services. Financial terms were not disclosed. Headquartered in Sioux Falls, South Dakota, TAK provides fiber and broadband network services, last-mile connectivity and on-premises technology deployment solutions for the broadband and telecommunications industries. The company was founded in 2004 by CEO Micah Mauney and established itself as a regional provider of on-premises fulfillment services, including residential and commercial network equipment installations and support. In recent years, TAK has grown substantially and diversified its offerings in more than 40 states to include last-mile cable and fiber "drop" services (aerial and underground), network maintenance, new construction network build outs, and design and engineering services. "TAK has built an impressive business with national scale that today provides full end-to-end capabilities across the network deployment value chain," said Platinum Equity Co-President Jacob Kotzubei. "Fiber is the backbone of all key technologies used to deliver broadband internet and wireless connectivity and we believe that demand for bandwidth will only continue to grow." Platinum Equity has significant experience investing in technology and telecommunications businesses. The firm's current portfolio includes Ingram Micro, one of the world's largest providers of technology, mobility and cloud platform solutions. The TAK investment was led by Platinum Equity's mall Cap team. "The broadband communications services space is highly fragmented, and TAK has significant room to grow both organically and through additional acquisitions," said Platinum Equity Managing Director Dan Krasner. "Private and public investment is projected to continue flowing into the sector over the next few years, which we believe will only make TAK's value proposition more essential to its current and future broadband customers." The company's owners and management retained a significant ownership stake in TAK and continue to lead the company. "Platinum has extensive experience helping founder-owned businesses leverage our operational expertise and M&A capabilities to maximize their potential," added Krasner. "We are excited to work alongside Micah and the management team, and to bring our full toolkit in building TAK's future success. "I am proud of everything we have built over the last 20 years and am confident Platinum will be an outstanding partner for our next phase of growth," said Mauney. "Platinum's operations expertise is well suited to help us take the next step in delivering the very best customer experience, growing our amazing team members, and strengthening our goal in building America's Best communication services provider for our current and future customers." About Platinum Equity About TAK Communications Contacts: Dan Whelan
View original content:https://www.prnewswire.com/news-releases/platinum-equity-invests-in-tak-communications-302097097.html SOURCE Platinum Equity |