RYE BROOK — Two New York private equity firms have purchased Bethel-based low voltage infrastructure solutions provider ComNet Communications.
Hudson Glade of Rye Brook announced Sept. 10 its second platform investment with the acquisition of ComNet Communications. Terms of the transaction were not disclosed.
ComNet provides low voltage infrastructure solutions nationwide, including structured cabling, audiovisual, and security systems. It serves blue-chip clients across ecommerce, industrial, office, and technology environments, including data centers, and is recognized for reliability, technical expertise, and service excellence.
ComNet’s Chief Executive Officer Glenn Wagner alongside existing management will continue to lead the business.
“Hudson Glade’s resources and perspective will help us scale our business and enhance the solutions we deliver to our customers,” said Glenn Wagner, CEO of ComNet. “This partnership builds on ComNet’s legacy and positions us to strengthen our role as a leading provider of low voltage infrastructure across industries.”
Hudson Glade partnered with New State Capital Partners on the transaction, marking the fifth investment New State has completed alongside independent sponsors.
“We are excited to back ComNet’s leadership team as they drive the next stage of growth,” said David Simon, Hudson Glade managing director. “The company has a proven track record of excellence and reliability supported by a customer centric and high integrity culture. We see multiple avenues to build on that foundation.”
Hudson Glade expects to expand ComNet’s presence in the growing data center market, deepening its existing customer relationships through adjacent services, investing in its already strong sales organization and pursuing strategic acquisitions all represent meaningful opportunities for value acceleration.”
“We are pleased to forge a relationship with Hudson Glade, given its pedigree and aligned strategy of building businesses,” said Shaun Vasavada, principal at New State Capital Partners. “ComNet is a high-quality company with clear long-term growth opportunities. With approximately $2 billion in assets under management, we bring the flexible capital to support those initiatives.”
Energy Impact Partners and GarMark Partners provided financing and support for the transaction. Troutman Pepper Locke acted as legal advisor to Hudson Glade.
