Communication Networks LLC, also known as ComNet, of Danbury has been acquired by Access Control Related Enterprises LLC (ACRE), a New London-based portfolio company of the private equity firm LLR Partners in Philadelphia.
Terms of the transaction were not disclosed by Southport boutique investment bank Carter Morse & Mathias, which acted as ComNet’s exclusive financial advisor and announced the deal.
ComNet manufactures and distributes fiber optic, copper and wireless video and data transmission equipment designed to meet the needs of security and surveillance in the intelligent transportation systems, utility and industrial markets. The company, which also has operations in Leeds, U.K., was founded in 2008.
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.