Morgenthaler Partners Acquires Voice and Data Services Businesses from Aztec Technology Partners, Inc.Business Editors
CLEVELAND--(BUSINESS WIRE)--June 8, 2000
Acquisition Will Establish National Platform to Provide
Engineering, Furnishing, Installation and Maintenance Services to
Meet Voice, Video and Data Needs
Morgenthaler Partners, a national private equity firm with primary offices in Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation).
Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. and Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. , announced today that it has acquired Compel, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control , Fortran Corp. and Mahon Communications Corporation from Aztec Technology Partners, Inc. (Nasdaq:AZTC) of Braintree, Massachusetts For geographic and demographic information on the census-designated place Braintree, please see the article Braintree (CDP), Massachusetts. Braintree is a town in Norfolk County, Massachusetts, United States. The population was 33,828 at the 2000 census. for $34.5 million. Morgenthaler will use these three businesses as an initial platform to build a nationwide service company focused on voice, video and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. infrastructure design, construction and maintenance. Aztec is divesting its non-core voice and data businesses in order to focus on e-Integration and e-Solutions business opportunities.
Each of the three companies will be run by existing management, and will continue to provide high quality, reliable service to their respective customers. The businesses have combined revenues of approximately $75 million.
Robert M. McClory, Jr., Founder and President of Compel, and Chief Executive Officer of the newly formed platform company consisting initially of Compel, Fortran and Mahon described the acquisition as a "winning move for us, Morgenthaler and Aztec. In the 20 years I have been in this business, the opportunities have never been greater. The explosion in demand for greater bandwidth and the private and public network infrastructure necessary to support this growth plays directly into Compel's, Fortran's and Mahon's strengths. And Morgenthaler is committed to provide ongoing support, assisting us in growing these businesses internally as well as through follow-on acquisitions."
Scott A. Fine, a partner at Morgenthaler, said, "We have been focused on the inside plant and network infrastructure markets for some time, due to their large size, high growth and potential for further consolidation. We were fortunate to have found Compel, Fortran and Mahon as Aztec repositions itself as an e-commerce solutions provider. The management teams at Compel, Fortran and Mahon each have decades of experience in building leading companies in their respective geographic and customer markets served. We are excited about the combined breadth and depth of the three companies."
About Compel, Fortran and Mahon
Compel is a leading full-service developer of large data communications and telecommunications operations. It provides expert site selection and data center design and construction, as well as extensive cabling services, physical infrastructure maintenance, outsource network management, and systems integration. Founded in 1979, Compel has demonstrated its industry leadership by serving such companies as American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , The Boeing Company, the Children's Hospital A children's hospital is a hospital which offers its services exclusively to children. The number of children's hospitals proliferated in the 20th century, as pediatric medical and surgical specialties separated from internal medicine and adult surgical specialties. of Los Angeles, Ernst & Young, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , The Los Angeles Times Los Angeles Times
Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). , Pacific Bell and the Phoenix Coyotes. Headquartered in Santa Fe Springs, California Santa Fe Springs (Santa Fe meaning "Holy Faith") is a city in Los Angeles County, California, United States. It is one of the Gateway Cities of southeast Los Angeles County. The population was 17,438 at the 2000 census. , it also has branch offices in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation).
The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] and Phoenix, Arizona. More information on Compel can be found at www.compel.net.
Fortran is a recognized leader in voice, data, and networking technologies. Since its start in 1979, Fortran's unique combination of world-class technology and regional responsiveness has delivered value to more than 5,000 customers. It is a single-source resource for all voice and data communications requirements, from planning and installing cabling to engineering voice and data communication solutions. Additionally, Fortran has a staff of software and hardware engineers who routinely develop new applications and enhancements for approximately 20 product lines. More information on Fortran can be found at www.fortran-corp.com.
Mahon develops integrated turnkey data, voice and video solutions. It designs, installs and maintains high performance fiber optic and copper cabling systems, telephony/voice processing systems, and video conferencing systems. It maintains a large staff of Registered Communications Distribution Designers (RCDD See BICSI. ). More information on Mahon can be found at www.mahoncom.com.
About Morgenthaler Partners
Morgenthaler Partners, founded in 1968, has funded more than 150 companies. The firm focuses on early stage investments in information technology and health care as well as later stage management-led buyouts, buildups and recapitalizations. Representative recent portfolio investments include Versata (web infrastructure), Nuance Communications (speech recognition), New Focus (optical components), Lightwave Microsystems (optical ASICs), Endwave (broadband wireless), Pointshare (physician connectivity), Protogene (gene chips), APSCO APSCO Asia Pacific Space Cooperation Organization (electronic components), International Flex (flexible circuit boards), and Cambridge International (engineered metal conveyor belts). With its recently closed fund, Morgenthaler Partners VI, the firm has $1-billion under management. More information on Morgenthaler can be found at www.morgenthaler.com.