Burlington, ON January 10, 2022 / – TowerMRL, LLC. (“TowerMRL”), a Newlook Capital Inc. Industrial Services Fund II portfolio company, is pleased to announce the acquisition of Advanced Tower Services Inc, (“ATS”) located in Albuquerque, New Mexico. The transaction closed on December 31, 2021.
ATS is a full-service tower site construction and staffing firm specialized in new construction, construction management, antenna, and line work. In addition, ATS also performs site installation services to communication sites which includes prefabricated buildings, electrical, grounding and generators. This transaction increases the size of TowerMRL, allowing it to compete amongst the largest tower maintenance companies in the US by providing full turnkey construction and maintenance services across the US as well as Puerto Rico.
Cliff Barbieri, ATS President, will be joining the management team of TowerMRL, working alongside partners, Chris Mallon, TowerMRL President, and Ross Royer, TowerMRL Chief Operating Officer.
“We are excited to add the staff of ATS to our team and look forward to adding their knowledge and expertise to the firm as we continue to grow and expand our operations,” said Chris Mallon. “Cliff and his team bring a wealth of industry knowledge and expertise, they will be a great addition to our management team,” adds Ross Royer.
“This acquisition is a great example of working with Newlook operating partners to source and acquire businesses that will continue to grow the platform,” notes Elroy Gust, Newlook’s Chief Executive Officer.
ABOUT NEWLOOK CAPITAL INC.
Newlook Capital is a private equity firm that currently manages 2 industry-specialized funds. Each fund has its own focused, experienced, and aligned management, and a defined strategy. Investing throughout Canada and the U.S. with a preference for companies that exhibit a solid tangible assets base, Newlook Capital is focused on and current holdings include; industrial services in Canada and the U.S., dental practices, and QSR in Canada. Newlook Capital Inc. took the initiative to establish Newlook Industrial Services II LP and manages the fund. This press release is for informational purposes only and should constitute nor be taken as a offer or solicitation to buy or sell securities.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. Forward-looking information contained or referred to in this press release includes, but may not be limited to, acquisitions to be completed by the company, the growth of the business.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, general economic conditions, failing to realize the anticipated benefits from the acquisition of the company, risks associated with valuing investments, risks associated with fire prevention services generally, competition, technological changes and regulatory risks. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of Newlook based on information currently available to the Newlook. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Newlook disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.
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