ADB Companies has acquired PrimeTech Communications, according to information provided by Capital Tactics, an adviser to PrimeTech. A statement from Capital Tactics said that ADB Companies is a portfolio company of private equity firm Warren Equity Partners. The transaction expands ADB’s reach into the Midwest and affords PrimeTech additional growth opportunities as a part of Warren Equity’s portfolio of companies, Capital Tactics said.
“PrimeTech has spent 25 years building an esteemed reputation,” said Brad Shoemaker, the CEO of PrimeTech. Shoemaker said that ADB would move PrimeTech “to levels that until now were beyond our reach.”
Prior to the sale, Brad Shoemaker and his wife Marti owned the company, which they founded in 1996. Marti Shoemaker is the company’s executive vice president. Two sons also work for the company: Nick Shoemaker is director of operations, and Mark Shoemaker is director of finance.
“They met while employed for a large cable television company back in the 1980s,” a history of the company on its website reads. “Starting as a line tech and working up to general manager, Brad decided to pursue his dream to start his own business in 1996.”
Shoemaker set up an office in the family dining room and purchased a bucket truck, according to PrimeTech.
“When it came time to name the new venture, the Shoemakers searched for a name that told more than what the company did,” the history reads. “It should state who they were. Thus, was born PrimeTech.”
A telecommunications and utilities construction contractor, PrimeTech offers six main lines of service: aerial and underground construction, fiber-optic services, engineering services, emergency restoration services and project management, according to Capital Tactics. It has offices in Cincinnati and Columbus, Ohio; Indianapolis and Louisville. The company has about 100 employees.
On behalf of ADB, the company’s CEO, Chad Johnson, said that the transaction expands ADB’s footprint into key geographies and customer sets.
“This further establishes ADB as a market leader and mission critical-partner to our customer base and the customer base of PrimeTech,” Johnson said.
ADB Companies is a turnkey provider of technology infrastructure solutions, according to Capital Tactics. Altogether, ADB Companies and its portfolio companies have 1,200 employees.
“With four unique business groups – wireline, wireless, engineering and technology — ADB provides world-class services across an array of industries, connecting communities and building the nation’s infrastructure,” Capital Tactics said.
Mercury Communications, another ADB company, builds distributed antenna system (DAS) networks, small cells and telecommunications towers, according to ADB. Examples of its DAS projects include Mizzou Football Stadium, Arkansas Razorback Football Stadium, Nebraska Cornhuskers Stadium, Excel Energy Center and the St. Louis Mercy Hospital. Also in St. Louis, Mercury built the Metro Link small cell project and, for Eco-Site, a monopole tower.
Among other things, ADB’s Utility Construction Group specializes in telecommunications and broadband projects with capabilities in outside plant engineering, boring, trenching and aerial installation, ADB said.
ZeroDay Technology Solutions, yet another ADB company, deploys enterprise networks to connect computers and other devices across company departments and networks, according to ZeroDay. The company said it deploys mobility equipment to connect people, technology and devices across wireless networks to use cloud technology and to increase connectivity between mobile devices and users.
As adviser to the seller, Capital Tactics guided negotiation of the transaction elements, including deal structure and management contracts, and provided due diligence guidance to enable successful closure of the transaction.
Dino Lucarelli, managing director of Capital Tactics, said that the leadership team at ADB displayed goodwill throughout the negotiations.
“Their collaborative approach was key to getting this done,” Lucarelli said. “This enables additional growth for both entities, affording customers additional services.”
Don Bishop is executive editor and associate publisher of AGL Magazine.