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The M&A Advisor named the sale of Communications Networks LLC (ComNet) and its UK affiliate, ComNet Europe Limited, to Access Control Related Enterprises, LLC as a finalist for its 9th Annual International M&A Awards. The transaction was named a finalist in the following categories: M&A Deal of the Year ($50MM-$100MM); Sector Deal of the Year – Professional Services (B-to-B) Deal of the Year and Information Technology and Telecom Deal of the Year (Under $75MM); Corporate/Strategic Deal of the Year (Over $50MM-$100MM); and Private Equity Deal of the Year ($50MM-$100MM).
Day Pitney advised the management team of ComNet and ComNet Europe on the closing of this transaction. ComNet is a global manufacturer of video and data transmission equipment with operations in the U.S. and abroad. Access Control Related Enterprises, LLC is a portfolio company of private equity firm LLR Partners. The management team collectively owned a majority interest in ComNet and the transaction included a pre-closing internal reorganization, rollover equity ownership by management in the buyer and liquidity for the non-management founder of ComNet. The Day Pitney corporate team included Scott Beach, Greg Kahn, Steve Ziobrowski and Andrew Wogman.
