Financial Technology

Financial Technology

August 29, 2012

Dallas-Based Equity Firms Acquires Fortress Solutions

Galatyn Private Equity and Vspeed Capital, LLC. are acquiring Fortress Solutions, Ltd., a company providing repair, refurbishment and life-cycle management of complex back-office equipment for telecommunication and cable service providers .

According to a statement, this acquisition will also give a new executive leadership to Fortress Solutions, as Brendon Mills and Brian Alton, managing partners of Vspeed Capital, will join the company as CEO and CFO respectively.

According to Ty Miller, president Galatyn Private Equity, “We are very pleased with the acquisition and addition of Fortress Solutions to our investment portfolio. Fortress Solutions is an exciting player in the multi-billion dollar market for the repair and refurbishment of technology products.”

Founded in 2002, Fortress Solutions repairs critical back-office equipment for the top telecommunication and cable equipment service providers and vendors worldwide. Fortress Solutions supports life-cycle management for mobile voice, data-backhaul, and wireline voice products.

 Brendon Mills, incoming CEO of Fortress Solutions, has extensive experience in communications equipment markets. Mr. Mills has held previous positions with Cisco Systems (News - Alert) through its acquisition of NetSpeed in 1998, Dell and NetWorth, Inc. Mr. Mills also serves a senior advisor to ATEME S.A., a French-based video technology company.

“I am excited to be both an investor and a principal in Fortress Solutions. The company has a long history of profitability and a future with enormous growth potential. The thesis of extending the lifecycle of these long-lived capital assets in the communications market is extremely compelling to customers,” said Brendon Mills.

Brian Alton will be joining Fortress as CFO. Brian Alton has more than 20 years of successful financial and operational leadership experience with entrepreneurial technology firms, including start-ups, high-growth and turn-around companies. Prior to Fortress Solutions, Brian was the CFO for SensorLogic (News - Alert). Before SensorLogic, Alton was CFO at RipCode, Inc., and served as a CFO consultant for multiple venture-backed start-ups, including Ignite Technologies and Tango Networks (News - Alert); and was the CFO of Cyneta Networks, a wireless data infrastructure company that was sold to Inet Technologies (now Tektronix).

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.

Edited by Brooke Neuman

blog comments powered by Disqus