Monday, August 27, 2012

Fortress Solutions Acquired In Private Equity Deal

Plano-based Fortress Solutions, Ltd., a provider of repair, refurbishment and life-cycle management of equipment for the telecommunications and cable services industry, has been acquired by Dallas-based private equity firm Galatyn Private Equity and Vspeed Capital. Financial terms of the deal were not disclosed. AS part of the deal, the two said that Brendon Mills and Brian Alton, Managing Partners of Vspeed Capital, will become CEO and CFO of the firm. Mills is the former foundr and CEO of GENBAND, founder of RipCode, and also has served at Cisco Systems, NetSpeed, Dell, and NetWorth. Alton was previously CFO at SensorLogic, and also served at CFO at RipCode; he also has advised or served as an executive at Ignite Technologies, Tango Networks, and Cyneta Networks.