PCE Advises Arete Development

PCE ADVISES ARETE DEVELOPMENT IN ITS SALE TO GLOTEL

Ridgewood, NJ  – Glotel, Inc., a portfolio company of The Gores Group, LLC, and a provider of mobility operations, expansion and integration services to many of the top wireless carriers and contractors throughout the United States, acquired Arete Development, Inc. in an asset purchase transaction. PCE Investment Bankers served as financial advisor to Arete.

PCE’s Michael Rosendahl stated “Glotel’s acquisition of Arete provides a good result for the shareholders and brings together two very complementary businesses. Glotel will be able to leverage Arete’s position in the Northeast and build on its strong reputation.”

Jonathan Ettere, Arete’s President stated, “We greatly appreciate all of PCE’s hard work on this transaction. Their persistence and dedication were instrumental in getting this result.”

“The acquisition of the Arete assets augments Glotel’s managed solutions on telecom projects with a broader range of wireless product and service solutions, while also expanding our customer and geographic base,” said Michele Casey, CEO of Glotel. “Likewise, Arete’s customers will benefit from Glotel’s national reach, advanced systems and broader range of services.”

Since 1999, Arete has been providing wireless infrastructure solutions to carriers, tower providers and associated engineering firms with a particular focus in the New York, New Jersey, Pennsylvania and Delaware markets. The Company’s wireless solutions include site development, water tower wireless site restoration, network upgrades, and construction and project management.

About PCE Investment Bankers

PCE is a leading financial services firm for mid-market companies, offering clients a full range of investment banking, valuation and advisory services. It provides M&A support, ESOPs, management buy outs (MBOs), bankruptcy advisory, restructuring, and fairness and solvency opinion advisory services. Additionally, the firm offers management consulting, succession planning, strategic analysis and litigation support. Experienced in all market sectors, PCE has established several specialty practice areas, including Consumer, Diversified Industrial – Infrastructure & Power, Healthcare, Construction & Building Products, Manufacturing, and Food. Offices in Orlando, Atlanta and New York.

About Glotel

Glotel, Inc., a portfolio company of The Gores Group, is a specialized supplier of workforce and project management solutions for the Telecom/Wireless Solutions and IT/Data Network industries. We deliver projects on a turnkey basis, provide managed services for specific functional areas and provide staff augmentation services. For more information, please visit www.glotel.com.

About Arete Development

Arete Development, Inc. is a wireless contractor specializing in the construction, modification and maintenance of telecommunications facilities for major cellular service providers, wireless equipment manufacturers, turf vendors and tower companies. For more information, please visit www.aretedev.com.

If you have comments or questions about this article, or would like more information on this subject matter, please contact us.

Will Stewart

 

Michael Rosendahl, Shareholder

Investment Banking

mrosendahl@pcecompanies.com

Orlando Office

407-621-2100 (main)

407-621-2124 (direct)

407-621-2199 (fax)

Andre Sutherland

 

Andre Sutherland

Valuation

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407-621-2119 (direct)

asutherland@pcecompanies.com

Connect
407-621-2119 (direct)

407-621-2199 (fax)

Daniel Kvarnberg

 

Daniel Kvarnberg

Valuation

Orlando Office

407-621-2132 (direct)

dkvarnberg@pcecompanies.com

Connect
407-621-2132 (direct)

407-621-2199 (fax)

David Jasmund

 

David Jasmund

Investment Banking | ESOP

Orlando Office

407-621-2111 (direct)

djasmund@pcecompanies.com

Connect
407-621-2111 (direct)

407-621-2199 (fax)

Eric Zaleski

 

Eric Zaleski

Investment Banking | ESOP

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847-239-2466 (direct)

ezaleski@pcecompanies.com

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Mark Klopfenstein

Advisory

Atlanta Office

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mklopfenstein@pcecompanies.com

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Melissa Ritter

 

Melissa Ritter

Investment Banking

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mritter@pcecompanies.com

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Michael Rosendahl

 

Michael Rosendahl

Investment Banking

New York Office

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mrosendahl@pcecompanies.com

Connect
201-444-6280 Ext 1 (direct)

407-621-2199 (fax)

Will Stewart

 

Will Stewart

Investment Banking | ESOP

Orlando Office

407-621-2124 (direct)

wstewart@pcecompanies.com

Connect
407-621-2124 (direct)

407-621-2199 (fax)

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Woody Whitcomb

Investment Banking

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wwhitcomb@pcecompanies.com

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Michael Poole

Investment Banking

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mpoole@pcecompanies.com

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Paul Vogt

Valuation

Atlanta Office

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pvogt@pcecompanies.com

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