Trivest Partners has completed the recapitalisation of Endeavor Telecom, a provider of turnkey installation services to businesses throughout North America.
Endeavor’s management team, led by Justin R. McLain (pictured) and Andrew Schroer, will continue as owners in the business and lead Endeavor’s daily operations.
Endeavor manages the installation of IT/communications equipment, with services ranging from basic single location installations to installs involving the connectivity of thousands of commercial sites across the US, Canada, and Mexico.
McLain says: "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. Trivest stood out since they had specific experience with founder-owned businesses and maintained other investments in the communications industry. Most importantly, Trivest clearly stated their intentions in our first meeting and conducted themselves honourably and efficiently throughout diligence and closing. I simply could not be more pleased with the timing of the recap and our choice of a capital partner."
Jamie Elias, a partner at Trivest, adds: "Trivest was particularly attracted to Endeavor due to their highly scalable business model and differentiated service offering. The company has maintained a 20 per cent 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 Andrew and their senior management team and look forward to the Company’s continued success."
Trivest Fund IV, with USD325m in commitments, and Endeavor’s co-founders provided equity for the transaction. Senior financing was provided by Amalgamated Capital, while Atlanta-based Croft & Bender acted as financial adviser to Endeavor.
