USTC grows strong foothold along East Coast with recent acquisition and rapid organic growth
Monday, June 20th, 2022, Edison, New Jersey – USTC Corp, a leading value-added distributor and one-stop shop for all materials, distribution, and logistics solutions supporting the broadband and telecommunications industry, announced today that it has acquired Multicom, the Florida-headquartered manufacturer and full-line stocking distributor for end-to-end integration of communications solutions, from Founder and CEO Sherman Miller. With this transaction, USTC Corp now operates 13 distribution locations in the U.S., with a strong foothold along the East Coast, and plans to continue growing its customer base and service territory. The financial terms of the transaction are not disclosed.
Founded in 2017 by Cédric Varasteh, USTC Corp is a leading one-stop shop for all materials, product design, and value-added distribution of passive and active equipment and tooling from nearly 1,000 global suppliers supporting FTTH, FTTx, HFC, Wi-Fi, 5G/Mobile, and Data Center technologies. USTC Corp is a trusted partner for all technical and logistics expertise with extensive engineering and Broadband Fiber Networks capabilities, and an experienced team of nearly 500 employees, including Walker and Comstar Supply, which were acquired by USTC in 2021. USTC is part of the ETC Group family, founded by Cédric Varasteh, Chairman of the Board, in 1993. ETC Group is the global leader in distribution, logistics, technical expertise, and product design with more than 1,200 employees across 40 locations that span 12 countries including the United States, France, the United Kingdom, Germany, and Portugal, and supports 14,000+ customers worldwide including major American and European cable operators and telecommunications service providers. The Group’s comprehensive portfolio of 55,000+ products, along with their value-added supply chain solutions support carriers’ seamless delivery of high-speed Internet, Video, Data, and Voice services to Residential, Business, and Mobile Users. ETC Group is backed by Washington, D.C. headquartered global investment firm Carlyle (NASDAQ: CG), and earlier this month announced that Cinven, the international private equity firm, entered into exclusive negotiations to acquire a majority stake in ETC Group from Carlyle, with Carlyle reinvesting for a significant minority stake.
Multicom is a value-added distributor for telecom and technology products, with a team of 25 and 2 locations in Longwood, FL. Multicom has a product portfolio of over 20,000 references from more than 380 manufacturers, including their own line of products. They are a full-line wholesaler and distributor of CATV, Satellite, Traffic, and VoIP system designs, products, and services, with a large customer base along the Southeast, and throughout Latin America.
This acquisition as well as last year’s acquisitions of Walker and Comstar Supply allow USTC Corp to continue expanding its customer base and footprint with now 13 locations for the combined entities across New Jersey (including USTC Corp’s headquarters in Edison), North Carolina, Pennsylvania, Texas, Nevada, Oklahoma, Indiana, and now Florida. The Group is positioned to serve customers quicker across the country with greater flexibility and reliability needed to support network deployments, upgrades, and maintenance, while adding a full line of Traffic products as well as Multicom’s branded and manufactured Fiber Optics, CATV, A/V, and Pole Line Hardware products to the Group’s robust range of 55,000+ industry SKUs. In addition, Multicom’s large customer base in Latin America and the Caribbean, will give ETC Group entrance to the market that can benefit from the Group’s enhanced one-stop shop offerings and global purchasing power.
For Multicom, the transaction provides an expanded portfolio of products and technologies beyond its existing inventory of CATV, Satellite, Traffic, and VoIP system designs, products, and services, and the Group’s comprehensive array of value-added solutions including kitting and home delivery, logistics services, as well as engineering capabilities, with an extended footprint across the country.
Cédric Varasteh, Founder and CEO of USTC Corp, said: “We’re delighted to welcome the Multicom team to the USTC and ETC Group family. Our capabilities, end-to-end solutions, and comprehensive product catalog, along with our now 13 locations across the U.S. enable us to offer the flexibility and reliability needed to support our customers on a regional and international scale. Multicom’s experienced team will be a welcomed addition to the Group and we’re excited about the future we can build together.”
Sherman Miller, Founder, CEO, and President of Multicom, added: “Multicom began with just one employee, myself, in my garage and I’m proud to have grown it into the company it is today and join the USTC and ETC Group family. Both organizations are guided by the same steadfast focus on customer satisfaction and reliability. Our combined portfolio of broadband connectivity products, traffic signaling infrastructure in our Traffic Division, as well as leveraging our international relationships and export experience in South America, Mexico, and the Caribbean with our Export Division, positions us to enhance our US and international offerings to our diverse stable of customers in a big way.”
Cyril Bourdarot, Managing Director on the Carlyle Europe Technology Partners Advisory Team commented: “Multicom is the third acquisition in a year for USTC Corp in the USA after Walker & Associates and Comstar Supply. Multicom not only strengthens USTC Corp’s footprint on the East Coast of the US, but also allows the company to first access Latin America. Together with Cédric and the Management team, we have positioned the Group as a leading consolidation platform in the fragmented telecom and tech infra space globally.”
ENDS
Advisors on the transaction:
- M&A Advisor (Buy-side): Bank Street Group LLC
- Legal Advisor (Buy-side): DLA Piper
- Legal Advisor (Sell-side): Barry Miller Law
About USTC Corp
Founded in 2017 by Cédric Varasteh, USTC Corp is a leading one-stop shop for all materials, product design, and value-added distribution of passive and active equipment and tooling from nearly 1,000 global suppliers supporting FTTH, FTTx, HFC, Wi-Fi, 5G/Mobile, and Data Center technologies. USTC Corp is a trusted partner for all technical and logistics expertise with extensive engineering and Broadband Fiber Networks capabilities, and an experienced team of nearly 500 employees, including Walker and Comstar Supply, which were acquired by USTC in 2021. With flexible delivery models, a plug-and-play approach, and modular set of value-added services, USTC Corp believes that customers deserve customization. Their experienced team of nearly 500 employees across 11 facilities in the U.S. are working hard every day dedicated to customer satisfaction and reliability. To learn more, visit www.ustc-corp.com and follow USTC Corp on LinkedIn at www.linkedin.com/company/USTCcorp.
About ETC Group
ETC Group is a global leader in distribution, logistics, technical engineering, and product design with over 30 years of expertise and performance supporting the telecommunications and broadband industry. Founded in 1993 by Cédric Varasteh, ETC Group supplies and distributes a comprehensive range of passive and active equipment and tooling for network deployment, upgrades, and maintenance, supporting all technologies including FTTH, FTTx, HFC, Wi-Fi, 5G/mobile, and data center. ETC Group employs over 1,200 people across 12 countries, and its experienced team works hard every day enabling technology and innovation to create a more connected future. To learn more, visit etc.group
About Multicom
Multicom is a manufacturer and full-line stocking distributor for end-to-end integration of communications solutions with a team of 25 and 2 locations in Longwood, FL. Multicom stocks over 20,000 products from more than 380 manufacturers, including their own products that are produced at factories throughout the world. They are a full-line wholesale manufacturer and stocking distributor of CATV, Satellite, Traffic, and VoIP system designs, products, and services, with a large customer base along the South East, and throughout Latin America. To learn more, visit www.multicominc.com
Media Contact:
USTC Corp and ETC Group:
Lindsay Hittner, Director of Marketing
Phone: +1 732-718-6283
Email: lindsay.hittner@ustc-corp.com
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