Former Wisconsin Gov. Tommy Thompson announced the investment banking firm McKinley Reserve will be assisting in the formation of a new telecommunications company based in Hilbert, Wis.
The new company, to be called Hilbert Communications LLC, will have significant operations in downtown Green Bay. Thompson, a senior advisor to McKinley, said the new company will be acquiring the equity interests of Bug Tussel Wireless LLC, Spiralight Network, LLC, Intelegra, LLC and several related companies.
According to Thompson, Hilbert Communications intends to grow from 26 employees and $20 million in revenue to several hundred employees and more than $100 million in revenue over the next few years.
McKinley Reserve president, Todd Thiel said, "We have been discussing the rural telecom market for some time and have spent the past year in discussions with the Bug Tussel group. Bug Tussel's commitment to the rural market and its management experience make it a desirable target to enter the telecom investment arena."
Bug Tussel Wireless president Steve Schneider said, "With over 200 wireless sites by the end of the year and close to 1,000 miles of access to fiberoptic facilities, the group of companies is well-positioned to take advantage of synergies and to continue growing the base that has been developed over the past three years."
Bug Tussel Wireless provides wholesale cellular service to large national carriers such as AT&T Mobility and T-Mobile. Bug Tussel will provide retail wireless, high-speed Internet and other telecom offerings in selected rural markets in the near future.
Thompson said, "McKinley brings together the resources and execution to create a world-class telecommunications company."
Thompson to be advisor for Hilbert wireless venture
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