ComNet has been acquired by ACRE

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December 16, 2016

Carter Morse & Mathias is pleased to announce that Communication Networks, LLC ("ComNet") has been acquired by Access Control Related Enterprises, LLC ("ACRE"), a portfolio company of the private equity firm LLR Partners. CMM acted as the exclusive financial advisor to ComNet for this transaction. The terms of the transaction were not disclosed.

ComNet focuses on manufacturing and distributing a broad line of fiber optic, copper and wireless video and data transmission equipment that is designed to meet the needs of security and surveillance in the intelligent transportation systems, utility and industrial markets. ComNet, headquartered in Danbury, CT with operations in Leeds, UK, was founded in 2008 by an experienced management team that had built and successfully sold similar businesses in the past.

The ComNet acquisition builds on the ACRE family of companies, providing complimentary communication technologies utilized across its access control, intrusion, video and cloud-based product ranges. ComNet CEO and President Andrew Acquarulo Jr, commented, "ComNet is excited to join the ACRE group and recognizes the strength it will bring to the brand and the synergies that are immediately apparent with the other ACRE companies."

ACRE CEO Joe Grillo stated, "In line with our mission, the ComNet acquisition, with their extensive offerings in the communication and data transmission technologies, continues to round out the product portfolio provided by the ACRE family of companies."

Founded in 2012, ACRE seeks to acquire, partner or invest with specialized players in the electronic security manufacturing industry that are emphasizing the ongoing transition to more open platform systems. The components and systems provided by ACRE's family of companies, sold through traditional distribution channel partners, help secure the highest valued assets of its end user clientele, including both public and private sector entities. The ACRE portfolio of companies include Mercury Security which provides innovative OEM hardware for facility security and access control systems and Vanderbilt which provides over 2,000 products across traditional access control, intrusion, video and cloud-based access and video systems in 95 countries.

Ramsey Goodrich, Managing Director of CMM, explained "It is especially gratifying to represent an industry leader with a proven management team in a synergistic transaction which creates a global powerhouse in the physical security, surveillance and intelligent transportation systems industries. We wish ComNet's team continued success with this new partnership with ACRE and LLR."

Other advisors for ComNet included legal counsel of Martin LLP (Counsel for Equity Holders) and Day Pitney (Counsel for Management), accounting firms Martin DeCruze & Company (Accounting) and Marcum LLP (Tax and Due Diligence Advisory).

LLR and ACRE were advised by Pepper Hamilton (legal) and KPMG (accounting due diligence). BMO Harris Bank N.A. and Antares Capital were the lead arrangers for a syndicate of lenders who provided the debt capital

For more information, please contact Ramsey Goodrich

About Carter Morse & Goodrich

Located in Southport, Connecticut, Carter Morse & Goodrich is a boutique M&A advisory firm that specializes in representing founder-led and family-held businesses valued between $25 million and $250 million. While CMG provides a full range of investment banking services, our primary focus is representing owners who are pursuing their once-in-a-lifetime M&A transactions. CMG specializes in advising leading companies in niche markets to plan, prepare, execute, and close successful transactions that maximize shareholder value. CMG fully understands and appreciates the unique dynamics of closely-held businesses and the importance of owner legacies. For 35 years, the combination of our hands-on approach, senior banker attention, strategic guidance, seamless transaction execution and extensive network of domestic and international resources has enabled us to become a trusted advisor to hundreds of business owners.

CMG's Broker/Dealer affiliate, Carter Capital Corporation, is a FINRA member firm registered with the SEC and SIPC.

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