Crestone Services Group, LLC in January announced its acquisition of Trace, LLC, a telecom infrastructure construction firm focused on building next-generation wireless networks, combining 5G fiber installation with ongoing maintenance for the nation's leading wireless carriers.
Crestone noted that in recent years, the increasing demand for bandwidth has led to Trace's significant growth. "The company has completed projects across the country and built a solid reputation with fiber infrastructure owners," added a Crestone press release.
Following the merger, Trace now becomes part of A to Z Field Services, a subsidiary of Crestone, and continues to be led by Jimmy Dixon, its founder.
"This is a terrific acquisition for Crestone," commented Rick Barrett, CEO of Crestone Services Group. "It expands our wireline capabilities by adding incremental underground, splicing, and aerial crews. We are also thrilled with the addition of Jimmy Dixon to our leadership team. Jimmy is a talented operator and adds technical skills that improve our end-to-end value proposition."
Crestone Services Group was formed in 2015 to develop a leading utility services company pursuing strategic acquisitions in the communications, power, and gas distribution markets. Crestone is a joint investment between Diamond State Ventures, Banyan Investment Partners, Asydan Capital Management and Post Road Group, led by former Blackeagle Energy Services CEO, Rick Barrett. To date, Crestone has completed nine acquisitions of businesses supporting communications carriers and public utility owners.
Jimmy Dixon, president of Trace, commented, "My team and I are excited to join Crestone. We see this as an opportunity to accelerate growth while continuing to serve our longstanding customers. I have a great relationship with Rick and the rest of the team and look forward to working alongside them and contributing to Crestone's overall success."
For more information, visit www.crestoneservices.com.