Atlanta, GA, March 18, 2010 --(PR.com
)-- Endeavor Telecom is pleased to announce the successful completion of its recapitalization with Trivest Partners, a leading private equity firm. Trivest Fund IV, with $325 million in commitments, and Endeavor’s original investors provided equity for the transaction. While the deal provided an exit for inactive, minority shareholders from acquired companies who collectively held 12% of Endeavor's stock, the newly capitalized company now has a group of investors completely dedicated to aggressive growth and further enhancement of the already superlative level of service Endeavor provides. Endeavor’s management team, led by Justin R. McLain (CEO) and Andrew Schroer (COO), will continue as shareholders in the business and lead Endeavor’s daily operations.
Through its robust technology platform and extensive field force of technicians, Endeavor manages the installation and repair of virtually every type of IT/communications equipment, with services ranging from basic single location installations to installs involving the connectivity of thousands of commercial sites across the United States, Canada and Mexico. Teaming with Trivest as a capital partner will enable Endeavor to continue its aggressive rate of profitable growth by leveraging the additional capital to further enhance the services provided to existing customers. Such enhancements will include a more sales focused organization, increased resources for staff development and training, continuous upgrading of Endeavor Service Portal (ESP) to optimize automation and scalability, and a bolstering of head count for staff and management to maintain the company's growth.
Justin R. McLain, Endeavor’s CEO and Co-Founder stated, "Since inception, Endeavor has been focused on maintaining an aggressive rate of profitable growth. The timing of this event is ideal as it will enable us to continue to prudently seize the many opportunities before us. With access to the vast financial resources of Trivest as well as their invaluable insight on the board, Endeavor is now in a position to grow business beyond its traditional markets while layering in high-touch expert client interface on top of the management and quality systems which have historically made us so successful. This transaction is a significant milestone for Endeavor and enables an even better experience for our customers and vendors. I simply could not be more pleased with the timing of the recap and our choice of a capital partner."
Jamie Elias, Trivest’s Partner stated, "Trivest was particularly attracted to Endeavor due to their highly scalable business model and differentiated service offering. Endeavor has maintained a 20% plus organic growth rate over the past few years (including 2009) and the addition of several new customers will continue to propel the business going forward. We are excited to partner with Justin and his senior management team and look forward to the Company’s continued success."
About Endeavor Telecom
Headquartered in Atlanta, GA, Endeavor is The Telecom Truck Roll Company for carriers, service providers, systems integrators, VARs, and equipment manufacturers. Endeavor's private label wholesale professional services include: Field Services, such as inside wiring & equipment installation; Order Fulfillment Logistics - equipment configuration, staging, testing, and shipping; and Tier I & II operations and technical support. Endeavor's field organization consists of more than 9,000 highly trained and certified technicians throughout North America, including all of the U.S., Canada, Mexico, and Caribbean. For additional information, please visit Endeavor Telecom on the web.
About Trivest Partners
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 150 transactions, totaling more than $4.0 billion in value. For additional information, please visit Trivest on the web.