Middle market buyout and growth equity investor Ridgemont Equity Partners acquired Cortel Inc. and TowerCom Technologies to form J5 Infrastructure Partners, an Orange County, California-based telecommunications infrastructure service company.
Through Cortel and TowerCom, and the leadership of Jerry Elliott, CEO, the newly formed company performs site acquisition, leasing, permitting, zoning, structural engineering, utility coordination and equipment installation services directly to all four of the top wireless carriers in the U.S. as well as tower and other infrastructure owners and state and local governments.
Its growth strategy will now include the incorporation of additional services to form a broader offering to both wireless and wireline network operators and the densification of its presence in the western region of the U.S. Through both organic growth and selective acquisition, the company will increase its scope, scale and local knowledge expertise.
SR Capital Advisors, a private investment firm, is co-invested in the transaction while debt financing, including additional capital for additional acquisitions, was arranged by SunTrust Robinson Humphrey and provided by SunTrust Bank, MUFG Union Bank N.A. and U.S. Bank.