Thursday, October 30, 2014
Inquirer Daily News

UniTek goes wireless with NX deal

Scott Lochhead and partners buy wireline unit for $5.9M, will take on debt

UniTek goes wireless with NX deal

UniTek Global Services, the publicly-traded, fast-growing, acquisition-minded Blue Bell firm that builds communications infrastructure for Comcast, DirecTV and police communications systems, among other clients, says it's sold its wireline business to NX Utilities LLC, of West Norriton, for $5.9 million. The company will continue to build wireless infrastrucure installations for clients. The deal will take place in stages as NX meets regulatory requirements.

UniTek will keep $3 million in net working capital from the wireline business, and NX takes on $3 million in debt, as part of the deal. Scott Lochhead, who headed the business that's being sold, is a part owner of NX and is leaving UniTek in connection with the sale. UniTek was founded by Scott Hisey and is now run by Rocky Romanella.

Joseph N. DiStefano
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PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

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Joseph N. DiStefano
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