The terms of the transaction were not disclosed. In connection with it, Brightwood Capital provided debt financing to Hylan.
The company will use the proceeds to increase investment in fiber and communications infrastructure.
Founded in 1960 and led by Chief Executive Officer Robert DiLeo and President John DiLeo, Jr., Hylan Datacom & Electrical is a provider of specialty contracting services in the New York City region supplying telecommunication providers and municipal organizations with operations of data communications, electrical contracting, lighting and electrical maintenance, utility construction, and emergency/disaster recovery services.
Customers include global multi-nationals as well as local businesses.
In addition to the investment, Hylan added industry veteran Bill LaPerch as Executive Chairman. The former President and Chief Executive Officer of AboveNet Communications, Inc., he will bring over 30 years of operating and board-leadership experience in the telecommunications and technology industries to Hylan.
LaPerch currently serves on the boards of Windstream Communications, Digital Realty Trust, Inc. and is an advisor to privately held companies FirstLight Fiber, Global Capacity, and Cross River Fiber.