Pryor Cashman Represents Benchmark Builders in $75M Sale to FTE Networks
Benchmark Builders, Inc., a premier, New York-based general contractor and construction management services firm, was recently acquired by network infrastructure solutions leader FTE Networks, Inc. (OTCQX: FTNW) for a purchase price of $75 million, consisting of cash, common stock and notes. The transaction closed on April 20, 2017.
In a press release announcing the acquisition, Benchmark Builders President Fred Sacramone said: “Joining FTE is the logical next step in the continued growth and success of Benchmark, allowing us to expand our reach nationally and seize new opportunities. We have long-standing relationships with FTE senior executives and look forward to becoming the cornerstone of FTE’s construction management practice. We are excited about the tremendous possibilities ahead.”
Representing Benchmark Builders in this transaction were Pryor Cashman Corporate Co-Chair Eric Hellige and Counsel Robert Lamonica.
Additionally, Partner Michael Dunworth advised on various tax issues, while Counsel Matthew Young handled the employment-related aspects of the deal.
More About Pryor Cashman's M&A Practice
Pryor Cashman’s M&A attorneys service domestic and international clients from a wide range of industries, including energy, software, technology, advertising, apparel, retail and life sciences, on all varieties of business combinations.
To learn more about our experience handling joint ventures, strategic alliances, collaborative arrangements, equity and asset purchases, unsolicited leveraged buyouts, spinoffs and restructurings, please visit our M&A practice page.
