Latest news from Lee Equity Partners and our portfolio companies

September 13, 2021

Lee Equity and Twin Point Acquire Alliance Corporation

Lee Equity Partners and Twin Point Capital, two growth middle market private equity firms announced that funds managed by the two groups have acquired a controlling interest in Alliance Corporation (“Alliance” or the “Company”). Alliance is Canada’s largest value-added distributor of wireless communications technology and is one of the fastest growing distributors in the United States, providing mission-critical solutions to the leading wireless carriers across North America. The Company is one of only two scaled North American distributors with cable termination capabilities and supports the construction, maintenance, and upgrades of cellular towers, indoor cellular service, and broadband internet. Alliance distributes over 5,000 SKUs of construction and telecom materials and terminates technologically advanced, custom cabling to a broad range of end customers including carriers, internet service providers, contractors, building owners and other components of the broadband infrastructure ecosystem.

Alliance’s experienced senior management team is led by Ron Moss, President. Ron has been with the firm for over 25 years and will continue to lead the company. The entire senior management team will retain a meaningful equity investment in the business. Ironbridge Equity Partners (“Ironbridge”) has been the majority equity investor in the Company and will exit its investment in its entirety as a result of this transaction. Financial terms of the transaction were not disclosed.

“For over 28 years, Alliance has served the growing and increasingly complex needs of the wireless telecommunications industry, providing our customers with a comprehensive portfolio of the highest quality products and world-class customer service,” said Ron Moss, President of Alliance. "Our national footprint, cable termination capabilities, value-added distribution and logistics, and our dedication to customer service provide our customers with reliable and timely solutions to their expanding 5G infrastructure requirements. We are excited to partner with Lee Equity and Twin Point given their knowledge and experience in the telecommunications and distribution sectors. Our partnership will enable Alliance to grow even faster and better serve an even greater set of customer needs.”

“Given the rapidly growing 5G wireless infrastructure requirements in North America, Alliance represents a unique wireless services platform given its leadership position in both distribution and cable termination, diversified customer base across all major U.S. and Canadian wireless carriers, and a broad and experienced management team with deep relations in the industry,” said Yoo Jin Kim, a Partner at Lee Equity. “We look forward to working with Ron, the entire Alliance team and Twin Point to accelerate the growth of Alliance and expand its leadership position in its core services and new adjacent services.”

“We look forward to partnering with Ron and the Alliance management team,” said Jonathan Friesel, Managing Partner of Twin Point Capital. “The company has an impressive set of in-house cable termination and distribution solutions and a passion for solving customer needs, on-time and on-budget. We look forward to working with our new partners on further enhancing growth organically and through strategic acquisitions.”

D.A. Davidson served as exclusive financial advisor to Alliance and Davies Ward Phillips & Vineberg LLP served as Alliance’s counsel. Weil, Gotshal & Manges LLP; Bennett Jones LLP; and DLA Piper LLP (US) served as legal advisors to Lee Equity and Twin Point.

About Alliance Corporation

Alliance Corporation distributes wireless network infrastructure, in-building signal enhancement solutions and broadband systems for cellular and next generation 5G networks, fixed wireless networks, as well as private enterprise and industrial users. Alliance also provides pre and post-sale technical support, engineering, radio configuration and training services.

Alliance offers wireless infrastructure products, including custom terminated trunk cable and jumpers, antennas, antennas accessories, mobile mounts, cable/connectors/adapters, filter products, RF amplifiers, grounding systems, lightening protection products, amplifiers, filters, test and measurement equipment, towers/site equipment, site monitoring, power and related products. Alliance provides in-building signal enhancement products such amplifiers for public safety, cellular signal repeaters and DAS systems, plenum, coax cable and in-building antennas as well all the other passive components needed for an in-building installation. Alliance also provides wireless broadband products, such as fixed LTE, Wi-Fi, point to point/backhaul, wireless access/point to multipoint, Industrial mesh technology, IOT equipment, SCADA and wireless video backhaul.

Alliance serves telecom carriers, fixed wireless broadband service providers, OEMs, systems integrators, resellers, and contractors in education, enterprise, federal government, military, healthcare, industrial, municipal government, oil and gas, mining, public safety, security, utilities and transportation industries. Visit

About Lee Equity Partners

Lee Equity Partners is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the North America. The firm invests in a range of industries where the team has deep relationships developed over decades, including business services, financial services, and healthcare services. Visit

About Twin Point Capital

Twin Point Capital is a principal investment firm founded by Lawrence H. Guffey and Jonathan E. Friesel in 2015 following their careers at Blackstone and Oak Hill Capital Partners, respectively. Based in Palo Alto, CA and New York, NY, Twin Point seeks to partner with outstanding management teams to build market leading companies.