March 16, 2010
Croft & Bender Client, Endeavor Telecom, Recapitalized by Trivest Partners
Trivest Partners Announces New Platform with Recapitalization of Endeavor Telecom, Inc.
MIAMI--(BUSINESS WIRE)--Trivest Partners (“Trivest”) announced its successful completion of the recapitalization of Endeavor Telecom, Inc. (“Endeavor” or the “Company”), a leading provider of turnkey installation services to businesses throughout North America. Endeavor’s management team, led by Justin R. McLain and Andrew Schroer, will continue as owners in the business and lead Endeavor’s daily operations. The Endeavor transaction is consistent with Trivest's long-standing investment strategy to partner with well run, founder-owned businesses headquartered in the Southeastern United States.
Through its robust technology platform, Endeavor manages the installation 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. Endeavor, based in Atlanta, Georgia, provides a valuable, cost-effective service to several hundred channel partner customers.
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. 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 honorably 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, stated, "Trivest was particularly attracted to Endeavor due to their highly scalable business model and differentiated service offering. The Company has maintained a 20%+ 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 $325 million in commitments, and Endeavor’s Co-Founders provided equity for the transaction. Senior financing was provided by Amalgamated Capital, and Atlanta based Croft & Bender acted as financial advisor to Endeavor in this transaction.
Endeavor is the leading provider of private label wholesale professional services to carriers, service providers, systems integrators, VARs, and equipment manufacturers. Endeavor’s portfolio of professional services includes North American Field Services (inside wiring, equipment installation, and repair calls), Order Fulfillment Logistics (equipment configuration, staging, testing, kitting, and shipping) and Operations Support (Tier I & II technical support, project management, and staff augmentation). For additional information, please visit www.endeavortelecom.com.
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 www.trivest.com.