Rochester, New York, July 17, 2023 – Harter Secrest & Emery LLP (HSE), a full-service business law firm with offices throughout New York State, recently advised Lee Equity Partners and Twin Point Capital in connection with their acquisition of Tessco Technologies Incorporated (NASDAQ: TESS). Under the terms of the transaction documents, each share of Tessco common stock outstanding prior to the merger was converted into the right to receive $9.00 in cash, reflecting a Tessco enterprise value of approximately $160 million. As a result of the merger, Tessco common stock will cease trading on, and will be delisted from, the Nasdaq stock exchange. Lee Equity Partners, LLC is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the United States. The firm invests within three distinct sectors, healthcare services, financial services, and business services, where the team has developed deep relationships over decades. Additional information is available at www.leeequity.com.
Twin Point Capital is a New York-based principal investment firm, which partners with outstanding management teams to build market leading companies. Twin Point’s portfolio includes investments in the communications, technology and technology-enabled service industries.
HSE’s Corporate M&A deal team, led by Buffalo-based Jonathan R. Jasinski and Rochester-based Taylor A. Henry, and HSE’s Real Estate Team, led by Rochester-based Sarah A. Pellerin and Karianne M. Polimeni, advised Lee Equity Partners and Twin Point Capital in connection with the transaction. Last year, HSE advised Alliance Corporation, owned by Lee Equity Partners and Twin Point Capital, on its merger with GetWireless. As a result of both deals, Tessco is expected to broaden its facility footprint, product offering, and value-added capabilities by partnering with Alliance and GetWireless to create a leading value-added telecommunications distributor in North America.
About HSE
HSE’s Corporate and Mergers and Acquisitions group provides private and public companies with comprehensive counseling and assistance on day-to-day legal, operational, and regulatory issues, as well as on significant milestones in a company’s lifecycle such as seed and venture financing, acquisitions and mergers, strategic planning, and leadership transitions.
HSE’s Real Estate group is a seasoned team of attorneys who focus on understanding and achieving client objectives while working meticulously and creatively to get deals done. We represent a wide range of clients including public and private companies, Real Estate Investment Trusts (REITs), landlords, tenants, developers, financial institutions, health care providers, educational institutions, nonprofit organizations, municipalities and governmental authorities.
Harter Secrest & Emery has 38 U.S. News – Best Lawyers® 2023 “Best Law Firms” top tier metropolitan practice group rankings—more Western New York rankings than any other law firm. The firm has been honored by Chambers USA for Corporate/M&A, Environment, Labor & Employment, Litigation, Immigration, Insurance Coverage, and Real Estate law and 50 attorneys are recognized as The Best Lawyers in America® for 2023. Among Upstate New York law firms, the firm has the most recognized attorneys overall, and the most recognized attorneys in the Corporate, Labor & Employment, and Litigation practice areas. For more information visit www.hselaw.com.