Platinum Equity announced a significant investment in TAK Communications, a national communications and broadband infrastructure service provider. The financial terms were not disclosed.
Based in Sioux Falls, South Dakota, TAK offers fiber and broadband network services, last-mile connectivity, and on-premises technology deployment solutions for the broadband and telecommunications industries.
The company was launched in 2004 by CEO Micah Mauney and established itself as a regional provider of on-premises fulfillment services, including residential and commercial network equipment installations and support. In recent years, TAK grew substantially and diversified its offerings in over 40 states, including last-mile cable and fiber “drop” services (aerial and underground), network maintenance, new construction network build-outs, and design and engineering services.
Platinum Equity has experience investing in technology and telecommunications businesses. And the firm’s current portfolio includes Ingram Micro, one of the world’s largest technology, mobility, and cloud platform solutions providers. Platinum Equity’s Small Cap team led the TAK investment. The company’s owners and management retained a significant ownership stake in TAK and continue to lead the company.
KEY QUOTES:
“TAK has built an impressive business with national scale that today provides full end-to-end capabilities across the network deployment value chain. Fiber is the backbone of all key technologies used to deliver broadband internet and wireless connectivity and we believe that demand for bandwidth will only continue to grow.”
– Platinum Equity Co-President Jacob Kotzubei
“The broadband communications services space is highly fragmented, and TAK has significant room to grow both organically and through additional acquisitions. Private and public investment is projected to continue flowing into the sector over the next few years, which we believe will only make TAK’s value proposition more essential to its current and future broadband customers.”
“Platinum has extensive experience helping founder-owned businesses leverage our operational expertise and M&A capabilities to maximize their potential. We are excited to work alongside Micah and the management team, and to bring our full toolkit in building TAK’s future success.”
– Platinum Equity Managing Director Dan Krasner
“I am proud of everything we have built over the last 20 years and am confident Platinum will be an outstanding partner for our next phase of growth. Platinum’s operations expertise is well suited to help us take the next step in delivering the very best customer experience, growing our amazing team members, and strengthening our goal in building America’s best communication services provider for our current and future customers.”
– CEO Micah Mauney
