XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

Rhea-AI Summary

XLCS Partners announced it acted as exclusive M&A advisor to Concurrent Utility Services on its acquisition by UniTek Global Services, a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Concurrent provides infrastructure development and maintenance services to electric utilities, telecom providers, and land developers across the Southeast U.S., spanning overhead/underground utility construction, telecom services, emergency restoration, in-building networks, environmental services, and data center development. UniTek, a digital infrastructure services provider with over 600 employees and 60 locations, expects Concurrent to accelerate its Power Services Division, launched in July 2025, and complement its broadband and data center platform. Concurrent will retain its brand and continue uninterrupted service. According to XLCS Partners, the deal closed on July 1, 2026, led by Partner Anthony Contaldo and Vice President Jay Cremer.

Positive

• Acquisition of Concurrent by UniTek completed on July 1, 2026
• Concurrent’s Southeast power footprint enhances UniTek’s Power Services Division
• Concurrent keeps established brand, supporting service continuity for customers

Negative

• None.

Market Context

Historical event 1078557 recorded a -0.98% 24-hour reaction to the acquisition. That precedent adds ...

Analysis

Historical event 1078557 recorded a -0.98% 24-hour reaction to the acquisition. That precedent adds context to this completed transaction, while Net Selling by one director supplied a separate risk factor to monitor.

Key Figures

UniTek employees: over 600 employees UniTek locations: 60 locations Power Services Division launch: July 2025 +2 more

5 metrics

UniTek employees over 600 employees UniTek company profile

UniTek locations 60 locations UniTek company profile

Power Services Division launch July 2025 UniTek division

Transaction completion date July 1, 2026 Concurrent acquisition

Announcement date July 23, 2026 XLCS Partners announcement

Historical Context

5 past events · Latest: Jul 07 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 07	Utility acquisition	Positive	-1.0%	Acquisition expanded UniTek’s power-services capabilities and preserved Concurrent’s brand continuity.
Jul 06	Earnings schedule	Neutral	-1.0%	Scheduled Q2 2026 results and conference call dates for early August.
May 04	Q1 earnings	Positive	-1.8%	Reported Q1 adjusted income, NAV, distribution, asset sale, buybacks, and liquidity.
Apr 20	Earnings schedule	Neutral	-0.7%	Scheduled Q1 results release and conference call with performance review and Q&A.
Feb 24	Q4 earnings	Negative	-4.0%	Reported Q4 income, distribution, discounted secondary sale, dividend reduction, and repurchases.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

All five selected historical events had negative 24-hour price reactions; positive acquisition and Q1 results disclosures diverged from those reactions.

Key Terms

m&a, portfolio company, telecom, data center

4 terms

m&a financial

"served as exclusive M&A advisor to Concurrent Utility Services LLC"

M&A, short for mergers and acquisitions, involves one company combining with or purchasing another company to grow, streamline operations, or gain competitive advantages. For investors, M&A activity can signal potential for increased value, new opportunities, or changes in market dynamics, making it an important factor to watch in the business landscape.

View in glossary

portfolio company financial

"a portfolio company of New Mountain Finance Corporation"

A portfolio company is a business in which an investor or investment fund has made a significant stake or owns outright, much like an item in a shopper’s basket represents part of that shopper’s spending. Its performance directly affects the investor’s returns and risk profile, so changes in the company’s revenue, profits, management or prospects can raise or lower the value of the investor’s holdings and influence decisions about selling, holding or providing additional support.

telecom technical

"providing infrastructure development and maintenance services to electric utilities, telecom providers"

Telecom, short for telecommunications, means the industry and services that transmit voice, data and video across networks such as phone lines, fiber optic cables, satellites and mobile towers. It matters to investors because telecom firms build and maintain the “highways” of information that other businesses and consumers use daily, so their traffic levels, pricing, regulatory environment and capital spending drive predictable revenue and can affect the wider economy.

data center technical

"data center development"

A data center is a secure facility that houses large numbers of computers, storage devices and networking gear that run, store and move digital information for businesses and online services. Investors treat data centers like modern warehouses: their occupancy, energy efficiency, connectivity and long-term service contracts drive steady revenue and capital needs, so changes in demand or costs can directly affect profitability and growth prospects.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ -- XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company's capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek's Power Services Division, which launched in July 2025 to broaden the company's maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent's established Southeast footprint and power capabilities directly complement UniTek's existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

"Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people," said Steve Sarno, CEO of Concurrent. "They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction."

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

FAQ

What transaction involving Concurrent Utility Services and UniTek Global Services was announced on July 23, 2026 for NMFC?

Concurrent Utility Services was acquired by UniTek Global Services, a portfolio company of New Mountain Finance Corporation (NMFC), and BTG Pactual Strategic Capital. According to XLCS Partners, the firm served as exclusive M&A advisor to Concurrent, and the transaction adds a new platform to UniTek’s portfolio.

When did UniTek Global Services complete its acquisition of Concurrent Utility Services related to NMFC?

UniTek Global Services completed the acquisition of Concurrent Utility Services on July 1, 2026. According to XLCS Partners, the deal closed earlier in the month and was later announced on July 23, 2026, providing timing clarity for New Mountain Finance Corporation (NMFC) investors.

How does acquiring Concurrent Utility Services support UniTek’s Power Services Division for NMFC investors?

The acquisition of Concurrent Utility Services accelerates UniTek’s Power Services Division, launched in July 2025. According to XLCS Partners, Concurrent’s established Southeast footprint and power capabilities complement UniTek’s broadband and data center platform, aligning with growing demand for resilient, modernized power infrastructure.

Will Concurrent Utility Services change its brand after the UniTek acquisition backed by NMFC?

Concurrent Utility Services will continue operating under its established brand after the UniTek acquisition. According to XLCS Partners, maintaining the Concurrent brand is intended to support uninterrupted service for existing customers and preserve the company’s regional reputation and market relationships following the ownership change.

What services does Concurrent Utility Services provide following its sale to UniTek Global Services (NMFC portfolio company)?

Concurrent provides infrastructure development and maintenance services to electric utilities, telecom providers, and land developers across the Southeast U.S. According to XLCS Partners, its capabilities include overhead and underground utility construction, telecom services, emergency restoration, in-building networks, environmental services, and data center development.

Who advised Concurrent Utility Services on its sale to UniTek Global Services associated with NMFC?

XLCS Partners acted as the exclusive M&A advisor to Concurrent Utility Services in its sale to UniTek. According to XLCS Partners, the transaction was led by Partner Anthony Contaldo and Vice President Jay Cremer and closed on July 1, 2026.