Tower Arch Capital Completes Recapitalization of TD&I Cable Maintenance
SALT LAKE CITY, Aug. 30, 2023 /PRNewswire/ -- Tower Arch Capital is pleased to announce that it has recapitalized TD&I Cable Maintenance, LLC ("TD&I") in partnership with its founders, Tim and Debbie Stanke, and management team, Donavin Berg, Jeff Antonuk, Spencer Pannhoff, and Carroll Wheaton.
Founded in 1987 and headquartered near the Twin Cities in Lakeland, MN with locations in Hudson, WI; Cold Springs, MN; and Des Moines, IA; TD&I provides directional drilling, trenching, and other related infrastructure services for the installation and maintenance of fiber optic networks and other critical infrastructure. TD&I's customers consist of national, regional, and local telecom providers in addition to utility cooperatives, tech companies, and municipalities.
Donavin Berg, CEO, said, "TD&I has a deep history in the Twin Cities and surrounding regions and has become a trusted partner for our customers. Our team is committed to providing the best possible service and solutions no matter the size or complexity of the job, and we are fortunate to have them as part of the TD&I organization. We're proud of our growth thus far and look forward to our partnership with Tower Arch Capital as we expand throughout the upper Midwest and further our presence in surrounding regions to better support our current and future customers."
David Topham, a Partner at Tower Arch Capital, added, "We are thrilled to partner with Tim, Donavin, Jeff, Spencer, Carroll, and the entire TD&I team. TD&I's commitment to safety, service, and on-time execution is a real differentiator in the market and something that will carry the business forward. This next chapter of growth will be very exciting as we support and invest in TD&I to enhance their service offerings and geographic reach while retaining their exceptional reputation and customer relations."
Terms of the transaction were undisclosed. Financing for the transaction was provided by Zions Bank and Hillcrest Bank. Advisors for Tower Arch Capital included Gibson, Dunn & Crutcher LLP and BDO USA, LLP. Advisors for TD&I included Hennepin Partners and Fabyanske, Westra, Hart & Thomson, PA.
About TD&I Cable Maintenance
TD&I Cable Maintenance ("TD&I") is a Lakeland, MN based specialty infrastructure services provider primarily focused on the installation and maintenance of underground and aerial telecom and cable networks. TD&I services many of the largest telecom, cable, and fiber providers in the upper Midwest and has been a trusted partner in the region for over 30 years. For more information, please visit www.tdicable.com.