nextGen Telecom Services Group, Inc. (“nextGen”) announced that it has been acquired by Dycom Industries, Inc. This transaction is the successful culmination of an initiative led by Peloton Advisory LLC on behalf of nextGen to responsibly affect an ownership succession plan that was best for all nextGen stakeholders while ensuring that operations and leadership would continue under the nextGen brand.
nextGen, headquartered in Rochester, New Hampshire, 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.
Founded in 2004, nextGen has built thousands of miles of fiber optic middle mile backbone, fiber to the home (FTTH) and fiber to the node (FTTN) networks for large national and regional telecom carriers, dark fiber providers and cable/broadband service providers. The company also performs field engineering, network maintenance and emergency restoration services. Russell Stephens, nextGen’s former President and CEO, commented, “The reputation we have in the marketplace as a world-class organization is a direct reflection of the character and skill set of our exceptional management team and great employees. In Dycom, we found a partner that values our culture of accountability and performance”.
“I am excited to lead the nextGen brand into its next chapter. Our number one priority is to ensure that our customers have the same, if not enhanced, service levels through the combination with Dycom. We are excited to be able to leverage Dycom’s vast resources and expertise in outside plant construction and engineering services.” said nextGen Vice President David Marcoux.
John-Michael Girald, of Peloton Advisory LLC, remarked, “It is an exciting time in nextGen’s evolution. With network demand rising exponentially, the industry timing was perfect to join forces with the national market leader. Russ, Dave and Dennis have created an excellent business and I look forward to following the future success of the combined organization.”
Dycom Industries (NYSE: DY), is a leading provider of specialty contracting services throughout the United States and in Canada. These services include project management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
Peloton Advisory LLC provides M&A advisory, business advisory and family office services to highly successful, privately owned entrepreneurial companies and their owners.