M&A Deal Summary

ADTRAN Acquires SmartRG

On December 6, 2018, ADTRAN acquired communications company SmartRG from Montlake Capital

Acquisition Highlights
  • This is ADTRAN’s 3rd transaction in the Communications sector.
  • This is ADTRAN’s 5th transaction in the United States.
  • This is ADTRAN’s 1st transaction in Washington.

M&A Deal Summary
Date 2018-12-06
Target SmartRG
Sector Communications
Buyer(s) ADTRAN
Sellers(s) Montlake Capital
Deal Type Add-on Acquisition

Target

SmartRG

Vancouver, Washington, United States
SmartRG, Inc. RG is a broadband solutions provider that makes gateways and modems for Internet Service Providers. SmartRG Inc. was formerly known as ClearAccess Gateways. The company was incorporated in 2012 and is based in Vancouver, Washington.

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Buyer(S) 1

Buyer

ADTRAN

Huntsville, Alabama, United States
Category Company
Founded 1985
Sector Technology Hardware
Employees3,227
Revenue 1.1B USD (2023)
DESCRIPTION

ADTRAN is a provider of networking and communications equipment. Its products enable voice, data, video and Internet communications across a variety of network infrastructures. ADTRAN was formed in 1985 and is based in Huntsville, Alabama.

DEAL STATS #
Overall 6 of 6
Sector (Communications) 3 of 3
Type (Add-on Acquisition) 5 of 5
State (Washington) 1 of 1
Country (United States) 5 of 5
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-14 CommScope Holding - Active Fiber Access Product Lines

Hickory, North Carolina, United States

CommScope Holding Co., Inc. - Active Fiber Access Product Lines is a provider of cable operators with the scalable solutions, services and support they require to compete in the multi-gigabit service delivery market.

Buy -

Seller(S) 1

SELLER

Montlake Capital

Seattle, Washington, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Montlake Capital is a private equity firm focused on lower middle-market company investments in the Pacific Northwest US. The Firm looks to invest in businesses generating $20 to $100 million in sales and $1 to $10 million of EBITDA. Sectors of interest include business services, consumer products and services, heath and wellness, retail, technology products, and financial services. Prospective transaction situations include growth capital financings, buyouts, recapitalizations, search funds, and shareholder liquidity needs. Montlake Capital was formed in 1999 and is based in Seattle, Washington.

DEAL STATS #
Overall 15 of 17
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 8 of 10
State (Washington) 8 of 10
Country (United States) 15 of 17
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-16 Coastal Community Bank

Everett, Washington, United States

Coastal Community Bank provides a full range of banking services to small and medium-sized businesses, professionals, and individuals throughout the greater Puget Sound area through its 15 full-service branches in Snohomish, Island, and King Counties, the Internet, and its mobile banking application. Coastal Community Bank was founded in 1997 and is based in Everett, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-15 Specified Fittings

Bellingham, Washington, United States

Specified Fittings LLC is a manufacturer and distributor of polyvinyl chloride (PVC) and high-density polyethylene (HDPE) pipe fittings. Specified Fittings was founded in 1997 and is based in Bellingham, Washington.

Sell -
Mergr

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