Founded in 2004, nextGen Telecommunication Services Group, Inc. is a leading communication network infrastructure/fiber optic specialty contractor providing turnkey engineering, construction, maintenance, installation and restoration services to telecommunication providers in New England and upstate New York.
nextGen was founded by three entrepreneurs: Russ, Dave, and Dennis. They varied in age, skills and stage in their professional trajectory. Two founders sought a complete exit from the business, both economically and professionally, while the youngest partner, Dave, was thriving professionally with a long career arc ahead. They looked to Peloton for a solution that would achieve Fair Market Value, a short transition for the CEO, Russ, and increasing responsibility and career growth for Dave.
Peloton crafted a methodology for identifying the next investor/owner of nextGen that included discussions/interviews with both strategic buyers and financial investors. Through detailed discussions and meetings with multiple candidates, it became clear to nextGen that the best outcome, qualitatively and quantitatively, was a 100% sale to Dycom Industries (NYSE: DY), the largest communication network service provider in the United States.
Dennis exited the company at the closing of the transaction. Russ was retained for a short-term period as a consultant to ensure the smooth transition of nextGen employees and customers before moving on to his next chapter on Lake Winnipesaukee. Dave was promoted to a Vice President position overseeing a regional team for Dycom that included the existing nextGen employees as well as a large regional division of Dycom.
Thanks for doing a great professional job for us. It was a pleasure working with you and was impressed how you operated.Dennis Nolin, Founder & Board Member