Huron Capital Acquires TriStruX, 22-Year-Old Firm’s Sixth Platform Investment in 2021

DETROIT — Leading middle-market private equity firm Huron Capital has completed the acquisition of TriStruX, a leading national provider of telecom infrastructure services to wireless carriers, cable companies and OEMs.

Clifton, N.J.-based TriStruX was formed by the 2020 merger of Telcom Engineering Group, Leone Electric Corporation and High Point Utilities.  The majority owners of these businesses, Frank Pena, Nick Leone, Craig Langenbach, and Scott Palmenberg, will remain in key management roles and maintain minority equity stakes in the company under Huron ownership, according to the agreement.

Huron Managing Partner, Jim Mahoney and industry veteran, Gene Callahan will join the Company’s Board of Directors. Randall P. Muench will continue to serve as CEO.

“We are pleased to partner with Randy and his team to invest in such a well-regarded and scaled telecom infrastructure services platform that is poised to take advantage of significant secular tailwinds including the roll-out of 5G infrastructure, fiber deployment, and fiber-to-the-home and enterprise investments,” Mahoney said. “We believe there’s a meaningful opportunity to continue the company’s expansion both organically and through acquisition while maintaining its track record of high-quality service delivery and deep focus on safety.”

Operating throughout the United States, TriStruX provides a range of installation, upgrade, and maintenance services including macro cell towers and 5G wireless construction, underground and overhead fiber construction, and hardware decommissioning to the leading U.S.-based telecommunications and cable companies.

“Huron’s investment will help us achieve our vision of becoming one of the premier telecom service providers in the country,” Leone said.

Frank Pena said, “I am proud of the quality business we have built and am looking forward to becoming stronger and nimbler while maintaining the quality and ‘can do’ success we bring to our clients. A partnership with Huron ensures we can accomplish this.”

TriStruX has experienced strong organic growth expanding its business in the Northeast, California, Southeast and Midwest markets, and is preparing to open four new markets during the first quarter of 2022.

“TriStruX experienced record growth in 2021 and we are just getting started,” CEO Randall Muench said. “We are laser focused on delivering quality wireless site installations and hundreds of miles of fiber at a scale our clients expect while continuing to be a great place to work for our employees. I’m especially excited to be on this journey with Huron who brings deep expertise in building scalable businesses and accelerating growth through M&A.”

The acquisition of TriStruX was Huron Capital’s sixth platform investment in 2021.