BAYCOM: Acquires Communications Services Wisconsin
Green Bay, Wis. (May 17, 2017) – As of May 16, BAYCOM, an affiliate company in the OwnersEdge portfolio, has acquired Communications Service Wisconsin (CSW). CSW, which has 22 employees, is headquartered in Portage with field locations in Madison and La Crosse. CSW specializes in turnkey communications system engineering, implementation and maintenance for the public safety and commercial markets.
Based in Green Bay, BAYCOM is a leading provider of mission-critical voice, mobile data and video solutions for public safety and commercial clients, including manufacturing, education and transportation, and has more than 50 employees. In April 2016, BAYCOM became part of OwnersEdge, a 100% ESOP owned holding company that strives to invest in and build sustainable businesses throughout the Midwest.
“This acquisition is significant because it clearly establishes BAYCOM as the premier partner in Wisconsin. Our level of expertise, technical services and employee count distances us from the rest of the field,” says Steve Elias, president of BAYCOM, Inc.
Rob Dillon, president of CSW, will join BAYCOM’s leadership team as executive vice president and be responsible for managing the company’s day-to-day sales and service operations. Dillon joined CSW’s board of directors in 2011 and became president in 2013. The company was originally founded in 1956 as Jones Radio.
“As market conditions have evolved, we considered a number of different strategic options for our business. In the process of evaluating those options, it became clear to us that OwnersEdge, BAYCOM and CSW were a perfect fit,” says Dillon. “CSW has always tried to instill an owner's mentality in each of our employees. Now there is a true financial motivation for our employees to do what's best for the whole. That alignment between individual and company interests will have a powerful impact on our operations.”
Series of BAYCOM Moves and More to Come
The acquisition of CSW is BAYCOM’s fourth since Elias took over as president in 2007 and include: The Global Net (‘08); Hark Com (’09); Milwaukee Two Way (’13); and CSW (’17). Each move grew the company’s client base and allowed it to expand into new portions of the state.
“As an ESOP company, our focus is on growth and providing an ever-increasing return to our employee owners,” says Elias. “At BAYCOM, we have an aggressive three-year strategic plan that identifies organic and acquisition growth opportunities so I know we’ll be making more moves in the future.”
This April, BAYCOM implemented two significant changes to elevate its brand, enhance its client experience and take advantage of synergies with its sister company CC&N.
In the Fox Valley, BAYCOM and CC&N closed their individual locations to create a joint, brand-aligned 6,600-square-foot regional office in Fox Crossing. In Milwaukee, the company moved from an older facility in West Allis to BAYCOM South – a new 8,400-square-foot facility in Pewaukee, which is close to CC&N’s headquarters in Brookfield.
With the CSW acquisition, BAYCOM will have a total of six locations in Green Bay, Fox Crossing, Pewaukee, Madison, La Crosse and Portage.
Last April, BAYCOM joined OwnersEdge, a 100% ESOP holding company based in Brookfield that has four portfolio companies – BAYCOM, Inc., CC&N, NEXT Electric and TourGuide Solutions. The benefits of an ESOP are typically considered part of a wealth development and/or retirement benefit strategy for employees. Each year, the value of the stock is established and reflected in employees’ accounts.
“OwnersEdge is actively seeking company acquisitions that deliver share value to our employee owners,” says Lisa Reardon, president, CEO and chairman of OwnersEdge Inc. “Companies that are aligned with our commitment to growth, expansion and employee ownership are ones we’re interested in talking to.”