Tower Arch Capital Forms S&N Infrastructure Services and Completes Recapitalization of S&N Communications

News provided by

Dec 05, 2023, 08:35 ET

SALT LAKE CITY, Dec. 5, 2023 /PRNewswire/ -- Tower Arch Capital is pleased to announce that it has formed S&N Infrastructure Services, LLC in partnership with Allen Powell and the S&N leadership team, to complete the recapitalization of N&S Construction, Inc d/b/a S&N Communications ("S&N" or the "Company").

Founded in 1974 and headquartered in Louisa, VA, S&N and its subsidiaries operate from 12 offices across the Mid-Atlantic and Southeast including Virginia, North Carolina, Alabama, Tennessee, and Maryland. S&N provides turnkey maintenance, repair, upgrade, and installation services for communications and electric utilities infrastructure. The Company recently broadened its suite of services to include underground facility locating. S&N's customers consist of national, regional, and local fiber and telecom providers, electric utilities, technology companies, and municipalities.

Allen Powell, S&N Infrastructure Services Executive Chairman and Founder, said, "S&N has been blessed to be a trusted partner to our exceptional customers across Virginia and the surrounding states for decades. Our team strives each day to deliver on our customer promise of integrity, safety, quality, and cost competitive services. We are excited about this new partnership with Tower Arch Capital as we focus on delivering excellent services and expand our presence to better support our current and future customers." Sean Davis, S&N President and CEO commented, "We remain committed to the safety of our people with a plan to aggressively expand our capabilities and service offerings to our customers."

Dave Parkin, Partner at Tower Arch Capital, added, "We are pleased to announce our first Fund III partnership with Allen Powell and the fine leadership team at S&N. The Company's absolute commitment to safety, integrity, and innovation make S&N unique in the markets it operates." David Calder, a Tower Arch Capital Partner, said, "We look forward to supporting the S&N team to further expand the Company's geographic reach and service offerings while building upon the Company's exceptional reputation."

Terms of the transaction were undisclosed. Financing for the transaction was provided by Zions Bank, UMB Bank, and Carter Bank & Trust. Advisors for Tower Arch Capital included Gibson, Dunn & Crutcher LLP and BDO USA, LLP. Advisors for S&N included J. Lee Lloyd, LLC, Smith Leonard PLLC, and Tuggle Duggins P.A.

About S&N Infrastructure Services

N&S Construction, Inc d/b/a S&N Communications ("S&N") is a Louisa, VA based specialty infrastructure services provider primarily focused on maintenance, repair, upgrade, and new construction services for communications and electric utilities infrastructure. S&N services many of the largest fiber and telecom providers in the Mid-Atlantic and Southeast and has been a trusted partner in the region for over 40 years. For more information, please visit www.sncomm.com.

About Tower Arch Capital

Headquartered in Salt Lake City, Utah, Tower Arch Capital is a lower-middle market private equity firm. Tower Arch seeks to partner with and grow high-quality family and entrepreneur-owned companies to deliver long-term value for their management teams and investors. Tower Arch brings operational, consulting, and financial expertise to companies to help them improve their operations, scale, and grow. Target investments include control positions in entrepreneur and family-owned businesses with EBITDA between $5 million and $30 million. For more information, please visit www.towerarch.com.

SOURCE Tower Arch Capital