Communications Networks, LLC ("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.
ComNet is a majority employee owned company and was looking to pair with a partner that could enable it to continue its' high growth strategy and grant it access to different vertical and geographical markets. ComNet approached CMM looking to liquidate part of the Company, while also continuing on as employees and minority shareholders.
ComNet launched a broad auction process and narrowed down the finalist to the eventual best buyer in ACRE, a portfolio company of LLR Partners. 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.
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."
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."