ONCAP Partners with Enertech; Tower Arch Capital Completes Successful Investment

All amounts in U.S. dollars unless otherwise statedTORONTO, Ontario, SALT LAKE CITY, Utah, NEW BRAUNFELS, Texas, Nov. 14, 2019 (GLOBE NEWSWIRE) — ONCAP announced today it has partnered with the management team of Enertech Holdings LLC (“Enertech”) to acquire the company from Tower Arch Capital LLC (“Tower Arch Capital”).   Enertech is a leading provider of wireless infrastructure services to telecommunications carriers and tower owners throughout the Southern, Central and Pacific Northwest regions of the United States.  The company goes to market under three regional brands: (i) Enertech Resources, (ii) EasTex Tower, and (iii) Legacy Telecom, all of which provide network densification, structural modifications, technology upgrades, and repairs and maintenance services.  Headquartered in New Braunfels, Texas, Enertech employs more than 470 people across 14 facilities located throughout the United States.“Enertech is a market leader due to a relentless focus on exceptional customer service, employee safety and technical expertise,” said Edmund Kim, a Managing Director with ONCAP.  “We are thrilled to partner with Eric Chase and the Enertech management team to continue to grow the business through acquisitions and organic growth.”“Right from the onset of this process, the ONCAP team brought speed, incredible know-how and a keen eye for the details.  We couldn’t imagine a better fit for both Enertech and the wireless industry,” remarked Eric Chase, Chief Executive Officer of Enertech.  “We’ve been truly blessed to work with Dave Parkin, Ryan Stratton and the entire Tower Arch Capital family over the years.  Their support and partnership has been a key factor in enabling Enertech to reach this next step in our journey.”“Enertech has been an excellent partner.  Dave Parkin and I have enjoyed working with Eric Chase, Justin Jones, Jim Miller and Jim Tracy, while delivering exceptional returns to our investors,” said Ryan Stratton, a Partner at Tower Arch Capital.  “The company is well-positioned for continued success and we believe ONCAP will be a great partner for Enertech.”The investment was made by ONCAP IV, Onex Corporation’s (TSX: ONEX) $1.1 billion fund.  The terms of the transaction are not being disclosed.About ONCAP
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