Genesis Capital is pleased to announce Network Controls & Electric, Inc. (“Network Controls” or the “Company”) has been acquired by Abacus Investments (“Abacus”). Network Controls is a leading provider of high-performance data communication infrastructure and technology solutions.
Network Controls provides its customers with a full suite of structured cabling, outside plant, wireless, access controls, surveillance systems, communications and technology infrastructure solutions. As an established regional market leader offering high quality mission-critical services, the Company has garnered longstanding relationships with a compelling, blue-chip customer base across the institutional and industrial sectors.
Ed Niles, CEO of Network Controls, said, “it was a pleasure working with Genesis Capital and they were truly instrumental in facilitating this deal. The team at Genesis Capital partnered with us every step of the way to make sure we secured the ideal partner to meet our near-term objectives as well as enable the continued long-term growth of the Company.”
Ed Niles added, “We are excited to partner with Abacus to assist with our next phase of growth. Abacus’ expertise of investing in entrepreneurial businesses, along with their vast strategic and financial resources, will provide us the ability to significantly increase the growth trajectory for our Company.”
Bill Nabors, Managing Partner at Abacus, commented, “The partnership with Ed and Network Controls is a perfect fit for Abacus. The Company’s commitment to serving its customers and employees combined with Ed’s vision for the future has laid the foundation for significant growth.”
Genesis Capital, LLC served as financial advisor and Merline and Meacham, P.A. served as legal counsel to Network Controls. BMSS’ Transaction Advisory Group served as financial advisor and Bradley Arant Boult Cummings LLP served as legal counsel to Abacus Investments.
About Network Controls
Network Controls, a privately held company based in Greer, South Carolina, is a full-service provider of structured cabling, outside plant, wireless, access controls, surveillance systems, communications and technology infrastructure. Network Controls offers essential communication and technology infrastructure services across a diverse set of end markets including industrial, education, commercial, telecommunications, healthcare and government.
About Abacus Investments
Abacus is a lower middle-market focused private equity firm founded to invest Partner capital. Their unique capital source allows them to align incentives with the founders/owners with which they look to partner. With vast experience as operators, they are able to take a hands-on approach to investing. The financial and management support Abacus provides is designed to drive significant growth to their companies and outsized returns to investors.