Congruex, which provides design, engineering, construction, construction management, and maintenance services to broadband service providers, has acquired Southeast Utilities of Georgia (SEU), which provides similar services in the U.S. Southeast. Terms of the deal were not revealed.
SEU offers self-perform construction services to telecommunications industry customers. The company provides aerial and underground fiber construction, as well as maintenance and storm recovery services. Founded in 1970, SEU is headquartered in Augusta, GA, and has field offices in Alabama, Florida, Georgia, South Carolina, and Tennessee.
“We are pleased to welcome SEU and its employees to the Congruex platform. Over 50 years of operation, SEU has built a tremendous reputation for exceptional work across its core markets,” said Bill Beans, Congruex's CEO. “The acquisition of SEU immediately strengthens Congruex’s ability to further support critical infrastructure needs in the Southeastern United States, during these unprecedented times and beyond. Moreover, SEU completes thousands of business-as-usual projects each year, providing an exceptional foundation for expansion into special project work as the demand for fiber and broadband has never been greater. I am proud that SEU’s founder, Chris Walker, will stay on to lead SEU. Keeping founders on post-acquisition is critical to our strategy and long-term success.”
The acquisition is the seventh Congruex has closed since it began operations in 2017 with the backing of New York based private equity firm Crestview Partners. The other acquisitions include CCLD Technologies and CHC Consulting in late 2017, White Construction in 2018, and Veterans Underground, Terra Technologies, and HHS Construction in 2019. The deals have given Congruex a footprint in the Midwest, California, and now in the Southeast. Its suite of broadband network construction services includes network development, engineering, construction, mandated road moves, maintenance and operations. The company says that it has adequate capital for additional purchases.
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