Reel Telecommunications, a communications construction services firm, this month announced that it has been acquired by Full Circle Fiber Partners, an affiliate of Mill Point Capital. Reel will continue to operate independently under its new name, Reel Broadband LLC.
Per a press announcement of the transaction, "Reel is a fast-growing business that will continue to expand its leadership in telecommunications infrastructure services within the Full Circle Fiber platform. The Reel team includes tenured, industry-experienced management with a proven track record of providing quality service under demanding timeframes."
Since the company’s founding in 2001, Reel has specialized in a wide variety of services, including project management, fiber-optic replacement and splicing, aerial and underground construction and engineering and design. The company is headquartered in Deerfield Beach, Florida, with additional offices in Texas, Alabama, North Carolina, South Carolina, Indiana, Virginia, West Virginia, Florida, Georgia and the Bahamas.
Mill Point is a middle-market private equity firm focused on control-oriented investments in the industrial, IT services and business services sectors in North America. Mill Point employs an "Executive Partner model" and has extensive experience investing in transactions in the communications and business services sectors.
The board of Mill Point's Full Circle affiliate includes communications industry veterans such as Wayne H. Davis. Reel marks Full Circle’s fourth acquisition in the communications services space, following investments in Knight Broadband, Noble Broadband and MTC Consulting in 2020.
Per the press announcement, "Under the ownership of Full Circle, Reel will continue to build upon its strong track record of performance and reliable customer service, while executing on the variety of opportunities in front of the company today. The combination of Reel’s expertise in the telecommunications sector, with Full Circle’s existing presence in the cable space, immediately enhances the platform’s value proposition while expanding customer relationships and geographical reach, said the partners."
Les Smith, chairman of Reel, commented, “We are thrilled to be joining the Full Circle family, and are excited about their commitment to our growth going forward. I am extremely proud of the extraordinary track record our team has built over the years, and look forward to the next chapter for Reel.”
“Under the leadership of Les Smith and Wes Parsons, Reel has established a proven history of dependable execution for its customers. We look forward to partnering with the entire Reel team to support the extensive growth opportunities in front of the company as well as the broader Full Circle platform,” concluded Michael Duran, founder and managing partner of Mill Point.