Hunter Street Partners, a Minneapolis-based alternative investment management firm, and Five Crowns Credit Partners, have sold to a private equity firm their stakes in TriStruX, a provider of telecom infrastructure services to wireless carriers, cable companies and original equipment manufacturers, according to Hunter Street Partners.
The investment management firm said that TriStruX was founded as the result of a merger between Telecom Engineering Group and Leone Electric. It said that in November 2020, TriStruX acquired High Point Utilities, a regional broadband network construction and maintenance company. Hunter Street Partners said that, together with Five Crowns Credit Partners, it financed the merger and ensuing acquisition.
TriStruX provides turnkey telecommunications service solutions in the continental United States to telecommunications and cable companies, according to Hunter Street Partners. It said TriStruX provides telecommunications infrastructure solutions for macro cell towers and 5G wireless communications, underground and overhead fiber, and power and electrical installation and maintenance. TriStruX provides services in more than 20 states, primarily along the eastern seaboard, including New York City, as well as the American Southwest and Texas, Hunter Street Partners said.
“We were glad to help TriStruX reach its next stage of growth by providing flexible access to capital,” said Neal Johnson, CEO and CIO at Hunter Street Partners. “Through acquisitions and organic growth driven by industry demand and operational focus, we were pleased to see the strong trajectory of the company.”
TriStruX Chairman Frank Pena said the company was at a stage where it wanted to enhance its service offerings and reap competitive advantages achieved through economies of scale.
Hunter Street Partners provides capital to operating partner teams and lower middle market companies om corporate finance, real estate and specialty finance, the company said. It said the firm focuses on fundamentals-driven, asset-oriented credit and equity opportunities.