HYLAN, a full-service company offering a deep array of services for datacom, electrical contracting, lighting and electrical maintenance and communications solutions, on Thursday announced its chairman and CEO, Robert DiLeo, and vice chairman and president, John DiLeo Jr., are acquiring majority ownership of the company.
The transaction is part of the Holmdel-based firm’s long-term growth plan, allowing it to regain independence as it continues to expand as a national organization and most optimally support its growing customer base.
Financial terms were not disclosed.
Founded in 1960 by John DiLeo Sr. as Hylan Electric Co., a residential contractor, HYLAN was first established as an enterprise serving its local communities and, through year-after-year growth and strategic acquisitions, the company gradually blossomed into a major player in the electrical contracting and utility industries serving multiple major markets throughout the U.S. Since 2018, HYLAN has grown substantially, diversifying its offerings across 17 states, with services that include wireline, wireless, ISP/OSP, municipal and smart city, electrical construction and electric vehicle charging infrastructure.
“It is indeed a prime time and opportunity to acquire a majority stake in HYLAN and be fully invested back into our company,” Robert DiLeo said. “This critical next step aligns perfectly with our company vision to grow as a national communications and infrastructure leader and expand our services, especially where there is heaviest market demand. The move is timed with tremendous growth opportunities in the market, giving HYLAN ample room to grow both organically and strategically through M&A. I am eager to continue to lead HYLAN to new heights of success with our incredible team.”
Brightwood Capital Advisors LLC, a private credit firm with a longstanding track record of investing in middle-market businesses and funds and accounts managed by BlackRock, are serving as investors in HYLAN in connection with the transaction.
As nationwide developments soar with solar and other clean energies, HYLAN’s value proposition is expected to become more substantial to not only its current and future customers, but to the marketplace overall.
“HYLAN has always been a key player in the growing communications and infrastructure industry, and we are committed to maintaining, strengthening and growing our position as we move forward with this exciting next step,” John DiLeo Jr. said.
