Quazar Capital Corporation is pleased to announce that their client, Tower 2000, Inc., has been acquired by Eagle Street Partners.
THE SELLER– Tower 2000 Inc. is a privately owned tower construction company located in Sauk Rapids, Minnesota. Established in 1976, the Company specializes in tower construction, antenna and line installations, sweep testing, lighting, maintenance, inspections, and emergency restoration services.
THE SITUATION– The owner of Tower 2000, Inc. decided to sell the Company in order to pursue individual interests. The main objectives of the sale were not only to maximize the value received for the company, but also to align the company with additional talent to continue its growth into the future.
ENTER QUAZAR– Tower 2000, Inc. began interviewing Investment Banking firms to find the best fit for their Company and their needs. Quazar Capital Corporation was engaged to take the Company to market, locate prospective buyers and negotiate the sale. Tower 2000, Inc. wanted to retain a firm that was outside of the local area yet understood the uniqueness of selling a business located in out-state Minnesota.
UNIQUE CHALLENGE– The Company was highly dependent on the primary shareholder who was not able to commit to a long-term transition. Without the primary shareholder’s operational commitment, the Company was light on senior management. In addition, there were very few buyers qualified for the stringent requirements of the industry and even less that were prepared to deal with the high risk nature of the business. To add to the challenge, the industry was in a state of flux due the merger of large cellular providers.
THE RESOLUTION– Quazar identified and approached a local investment group. With their strong organizational experience, the group was confident that their skills and knowledge would facilitate growth in the Company while keeping the business in the local community. This investment group is currently in the process of expanding the business and taking it to the next level. The owner decided to continue working with the Company as a trusted advisor and consultant to help ensure continued success.