Verit Telecommunications Corporation, a leading wire, was acquired by Constructel Visabeira, a subsidiary of Grupo Visabeira and a leading global provider of telecom and energy engineering services.
In its core markets of France, UK, Belgium, Portugal, Germany, and the US, Verit is Constructel's tenth acquisition.
Verit has 500 employees and is engaged in engineering, construction, and maintenance of both fixed and mobile telecommunication infrastructures.
With a reputation for excellence, Verit's expertise, along with its client-centered approach and expertise in delivering solutions, align with Constructel's growth strategy for the US.
Verit's founder and CEO Michael A. Falsetti will continue to lead the company with a focus on strong client relations, commitment to employees and partners, and relentless focus on quality of delivery to drive the next wave.
"This strategic partnership will allow us to accelerate our growth, not only by providing new opportunities to better serve our existing customers while facilitating new relationships, but also by fostering the digital and management transformation that was already taking shape."
It positions us over $250m in sales in the US, while effectively balancing our growth across the US Energy and Telecommunications sectors.
In addition to its M&A track record, Constructel has delivered double-digit organic revenue growth and double-digit EBITDA margins since 2021, reaching over 1.3 billion in revenues.
The transaction is expected to be completed in the second half of the year.
About Constructel Visabeira.
With more than 40 years of experience, Constructel is one of the leading European telecommunication and energy service providers.
Please visit www.constructelvisabeira.com for more information.
About Verit Telecommunications Corporation.
Verit is one of the leading wireline and wireless service providers in the US Central region.
Please visit www.Veritcorp.com for more information.
SOURCE Verit

Source prnewswire