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White Oak Group Advises Gregg Communications on Sale

February 26, 2024, 07:20 AM
Filed Under: Communications
Related: Communications

White Oak Group served as the investment banker to Gregg Communications in its sale to financial sponsor APLJ Capital Management.

Established in 1967 and headquartered in Lombard, IL, Gregg provides communications solutions and services, and is a distributor for manufacturers of premise-based phone systems including Mitel, as well as cloud-based VoIP telephone systems (UcaaS), unified communications and call center technology (CCaaS).

Gregg successfully transitioned customers to cloud-based solutions as it expanded service offerings, and built out its stream of recurring cloud revenue. Ownership wanted to explore sale options.

White Oak Group conducted an expansive sale process and exposed the Company to a wide range of industry participants and private equity sponsors. There was substantial interest from strategics as well as financial sponsors and the Company conducted diligence and management visits with several groups. Gregg agreed to a sale to APLJ Capital Management to realize ownership’s interest in a liquidity event, and transition management to a new team including the participation and retention of employees. White Oak Group provided extensive assistance to the sellers throughout due diligence, including a quality of earnings review and developing confidential information, and led the team in negotiating agreements and in the documentation process through a successful completion of the sale.

White Oak Group acted as exclusive financial advisor to Gregg Communications, Inc.

Tom Rickert said, “White Oak Group’s professionals guided ownership through an organized sale process with a most favorable outcome,” and

Andri Teneqexhi, APLJ’s president said, “Working with Murray Lessinger made for a successful process.”

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