Hunter Street Partners and Five Crowns Credit Partners Increases Capital Commitment to TriStruX

By Telecom Tech Outlook | Tuesday, December 29, 2020

Both the firms will increase their senior secured term loan to $14.25 million, providing TriStruX the capital needed to facilitate the acquisition of High Point and enable further flexibility for near-term growth.

FREMONT, CA: Minneapolis-based alternative investment management firm Hunter Street Partners and Five Crowns Credit Partners are increasing their capital commitment to TriStruX, a leading provider of wireless infrastructure and telecommunication service, to finance the acquisition of High Point Utilities, a regional broadband network construction and maintenance firm. The firms will increase their senior secured term loan to $14.25 million, providing TriStruX the capital needed to facilitate the acquisition of High Point and enable further flexibility for near-term growth. Hunter Street and Five Crowns declared an initial round of financing to TriStruX in June 2020.

TriStruX was founded as a result of a merger between Telcom Engineering Group and Leone Electric Company, a regional competitor. TriStruX is majority-owned and led by CEO Frank Pena and COO Nick Leone.

The add-on acquisition enables TriStruX to add more subscribers in fiber optics, cable TV, and multiple-system operators markets, further diversifying into the broadband segment of the telecommunications industry. High Point leadership will work closely with the senior leadership of TriStruX post-transaction to ensure the efficacy of the acquisition.

"This acquisition positions TriStruX to serve a broader range of potential clients and add service offerings to key existing clients in the New York City market," said Andrew Platt, Partner at Hunter Street. "We're proud to give capital that will enable the company to take on additional broadband opportunities throughout the five boroughs of New York City," said Neal Johnson, CEO and CIO of Hunter Street.

"Expanding TriStruX's financing will allow it to better develop client relationships and scout out new opportunities," said Chris Taylor, Managing Director at Five Crowns.

"With our new capabilities, TriStruX plans to aggressively pursue opportunities throughout the New York City area, and to take on additional projects," added Mr. Leone.