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.