Atlantic Street Capital Announces Acquisition of Z Wireless
Poster: SySAdmin
Posted on October 21, 2011 at 12:14:01 PM
Atlantic Street Capital Announces Acquisition of Z Wireless
Atlantic Street To Leverage Its Expertise To Grow Leading Midwest Provider of Verizon Wireless Products And Services
STAMFORD, Conn., Oct. 21, 2011 /PRNewswire/ -- Atlantic Street Capital, a private equity firm investing in the lower middle market, announced today the acquisition of Z Wireless, a leading retailer of Verizon Wireless voice and data communications services operating throughout the Great Plains, and gained entree to the growing $165 billion wireless communications industry in the U.S. that has over 320 million subscribers.
Headquartered in Sioux Falls, SD, Z Wireless markets and sells a full suite of Verizon Wireless products and services from over 100 stores in nine Midwestern states. It is the largest operator of exclusive Verizon Wireless Premium Retailer stores in that region. In addition to wireless services, the company also sells a comprehensive mix of wireless devices, including smartphones, voice phones, tablets, and a broad range of accessories to be used with these devices.
"Z Wireless is an outstanding business that was created and developed by Kevin Tupy and we are very pleased to be working with him to further build this company throughout the Midwest," said Peter Shabecoff, Atlantic Street Capital Managing Partner. "Kevin is an accomplished entrepreneur and the combination of his leadership and Atlantic Street Capital's resources better enables us to propel the growth of this already strong business. The company has a great working relationship with Verizon founded on its leading market performance and we hope to leverage those capabilities to build on the company's strong position."
Kevin Tupy, Chief Executive Officer of Z Wireless who founded the company in 2001, will continue to oversee all aspects of day to day operations and become a Board member. "As successful as we have been for the past 10 years, there are still many opportunities for us to continue our year over year growth and to improve our operating capabilities and I am pleased to have the Atlantic Street Capital team as partners. Given the Z Wireless reputation and strong position in the marketplace, we can continue to expand our market position in our geographic footprint."
Morrison Cohen, LLP provided legal counsel to Atlantic Street. Allegiance Capital Corporation served as financial advisor and Winstead served as legal counsel to Z Wireless.
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in middle market companies with between $25 and $150 million in revenue. The firm invests in fundamentally sound companies that will benefit from capital investment and value-adding strategic and operational initiatives. Atlantic Street Capital's partners are hands-on investors who work closely with management to unlock their business' underlying value and help them succeed. The firm is currently investing from Atlantic Street Capital Partners, L.P. II. For more information, visit http://www.atlanticstreetcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
SOURCE Atlantic Street Capital
Atlantic Street Capital
Web Site: http://www.atlanticstreetcapital.com
Atlantic Street To Leverage Its Expertise To Grow Leading Midwest Provider of Verizon Wireless Products And Services
STAMFORD, Conn., Oct. 21, 2011 /PRNewswire/ -- Atlantic Street Capital, a private equity firm investing in the lower middle market, announced today the acquisition of Z Wireless, a leading retailer of Verizon Wireless voice and data communications services operating throughout the Great Plains, and gained entree to the growing $165 billion wireless communications industry in the U.S. that has over 320 million subscribers.
Headquartered in Sioux Falls, SD, Z Wireless markets and sells a full suite of Verizon Wireless products and services from over 100 stores in nine Midwestern states. It is the largest operator of exclusive Verizon Wireless Premium Retailer stores in that region. In addition to wireless services, the company also sells a comprehensive mix of wireless devices, including smartphones, voice phones, tablets, and a broad range of accessories to be used with these devices.
"Z Wireless is an outstanding business that was created and developed by Kevin Tupy and we are very pleased to be working with him to further build this company throughout the Midwest," said Peter Shabecoff, Atlantic Street Capital Managing Partner. "Kevin is an accomplished entrepreneur and the combination of his leadership and Atlantic Street Capital's resources better enables us to propel the growth of this already strong business. The company has a great working relationship with Verizon founded on its leading market performance and we hope to leverage those capabilities to build on the company's strong position."
Kevin Tupy, Chief Executive Officer of Z Wireless who founded the company in 2001, will continue to oversee all aspects of day to day operations and become a Board member. "As successful as we have been for the past 10 years, there are still many opportunities for us to continue our year over year growth and to improve our operating capabilities and I am pleased to have the Atlantic Street Capital team as partners. Given the Z Wireless reputation and strong position in the marketplace, we can continue to expand our market position in our geographic footprint."
Morrison Cohen, LLP provided legal counsel to Atlantic Street. Allegiance Capital Corporation served as financial advisor and Winstead served as legal counsel to Z Wireless.
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in middle market companies with between $25 and $150 million in revenue. The firm invests in fundamentally sound companies that will benefit from capital investment and value-adding strategic and operational initiatives. Atlantic Street Capital's partners are hands-on investors who work closely with management to unlock their business' underlying value and help them succeed. The firm is currently investing from Atlantic Street Capital Partners, L.P. II. For more information, visit http://www.atlanticstreetcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
SOURCE Atlantic Street Capital
Atlantic Street Capital
Web Site: http://www.atlanticstreetcapital.com