The PCIA 2011 Wireless Infrastructure Show has already yielded two acquisition announcements, each linking a Maryland company to a North Carolina company. Network Building & Consulting LLC of Hanover, Maryland is buying IETS Engineering Services of Charlotte, North Carolina. The new entity will be named “NB&C Engineering Services.” Founded in 1984, Network Building & Consulting develops new wireless communication facilities and retrofits existing facilities. Customers include Verizon Wireless, AT&T Mobility, T-Mobile, Sprint, Comcast, Crown Castle, and American Tower. IETS, founded in 1977, provides architectural and engineering services to the tower and wireless industries.
“This acquisition will allow NB&C to broaden its service offerings to its diverse list of wireless service provider and communications infrastructure clients,” said Thomas Kane, NB&C’s President. “IETS brings a wealth of experience to the table and they have built their business much the same way we have at NB&C, with experienced professionals providing excellent client service. Our companies, NB&C, NB&C Engineering Services, and NEO Solutions will now offer site development, engineering, and technical services.”
And in the insurance industry, a North Carolina company is buying a Maryland company with a large number of wireless industry clients. BB&T Insurance Services, the nation’s sixth largest insurance broker, announced the acquisition of Atlantic Risk Management Corporation of Columbia, Maryland. Founded in 1981, Atlantic Risk Management is a commercial property and casualty and employee benefits broker and a recognized leader in providing telecommunications insurance for independent tower owners and surety bonds for the construction industry.
Atlantic Risk provides risk management consulting and a full array of business insurance products and services nationwide. The company has 45 employees.
“This acquisition provides an attractive foothold for us in metro Baltimore and a broader representation in the Washington, D.C., area. It will extend our deep relationships with BB&T banking clients and open doors to new clients,” said Wade Reece, BB&T Insurance Services chairman and chief executive officer. Pete Marcelli, Atlantic Risk Management chairman and co-founder, emphasized that his company’s clients will continue to be served by the same agents. “This is a winning combination and a great move for our employees and clients,” he said.
Atlantic Risk will operate as BB&T-Atlantic Risk Management. Mary Ann Marbury, Atlantic Risk president, will continue to oversee the operation. The transaction is expected to be completed this month.
