Brookfield, Wis. (May 17, 2017) – As of May 15, 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.
“As market conditions 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 Rob Dillon, president of CSW. “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.”
OwnersEdge is a 100% ESOP holding company based in Brookfield with four portfolio companies – BAYCOM, Inc., CC&N, NEXT Electric, and TourGuide Solutions. (BAYCOM and TourGuide Solutions became part of OwnersEdge in April 2016.)
“OwnersEdge is actively seeking company acquisitions in the Midwest 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.”
An Employee Stock Ownership Plan (ESOP) is an ownership model in which company employees have full ownership in the value of the company, collectively. The benefits of ownership 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.
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.
Series of BAYCOM Moves and More to Come
The acquisition of CSW is BAYCOM’s fourth since Steve 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.
“This acquisition is significant because it clearly establishes BAYCOM as the premiere partner in Wisconsin. Our level of expertise, technical services and employee count distances us from the rest of the field,” says Elias.
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.
Based in Brookfield, Wisconsin, OwnersEdge Inc. is a 100% ESOP owned holding company that strives to invest in and build sustainable businesses throughout the Midwest. The affiliated companies within the OwnersEdge portfolio utilize their industry expertise to drive business growth and create value for stakeholders including customers, communities, and the ESOP employee owners. The five companies in its portfolio – CC&N, NEXT Electric, BAYCOM Inc., TourGuide Solutions, and BAYCOM Cellular Inc. – provide diverse products and services to a variety of market segments ranging from public safety to construction to manufacturing and attractions.