Constructel Visabeira acquires Verità Telecommunications to expand US telecom and energy engineering services portfolio

Constructel Visabeira, a subsidiary of Grupo Visabeira, announced the acquisition of Verità Telecommunications Corporation (“Verità”), a Michigan-based wireline and wireless services provider with over $100 million in revenue. This acquisition, backed by Goldman Sachs Alternatives, represents Constructel’s tenth since 2021 and will expand its footprint in the large US telecom services market. Constructel’s US revenue will now exceed $250 million, diversifying its portfolio across telecom and energy engineering services.

Key Points:

1. The acquisition is expected to boost Constructel Visabeira’s annual US revenue to over $250 million and strengthen its presence in the US telecom market.

2. Verità’s established operations in Central US, with around 500 employees, will add significant value to Constructel’s expansion strategy.

3. The transaction aligns with Constructel’s goals to expand in the fibre and 5G deployment landscape.

Constructel Visabeira acquires Verità Telecommunications Corporation, boosting its US revenue to over $250 million and expanding telecom and energy services.

Strategic Significance of Acquisition:

Verità will continue to operate under the leadership of its founder and CEO, Michael A. Falsetti. The company has grown rapidly, delivering double-digit revenue growth since 2021. Its core operations include engineering, construction, and maintenance of mobile and fixed telecommunication infrastructure. Falsetti emphasized that the strategic partnership would accelerate growth by fostering digital transformation and new relationships.

Nuno Marques, CEO of Constructel Visabeira, highlighted the importance of balancing growth across the US energy and telecommunications sectors. He stated, “This investment will play a pivotal role as we execute our expansion strategy in the US.” Marques also emphasized the company’s alignment with Verità’s customer-centric approach, reinforcing that shared values and a strong financial foundation would enable commercial and operational synergies.

Constructel’s Financial Track Record:

Since 2021, Constructel Visabeira has maintained double-digit organic revenue growth and EBITDA margins, reaching over €1.3 billion in revenues. Their international expansion in France, Belgium, Germany, and the UK has contributed to over €1 billion in company revenues.

Overall, this acquisition strengthens Constructel’s position in the US telecom services market and enhances their ability to provide integrated engineering services. The transaction is expected to complete in Q2-2024, subject to customary closing conditions.