News Room

Cirtek acquires US-based Quintel in $77M deal

(L-R) Cirtek Executive Vice Presidents Brian Liu and Michael Liu, Cirtek Chief Finance Officer & Treasurer Tony Buyawe, Cirtek Group Vice Chairman & President Jojo Dispo, Cirtek Group Chairman Jerry Liu, China Banking Corporation Vice President of Institutional Banking Layne Arpon, Bank of the Philippine Islands Sr. Vice President and Co-Head of Investment Banking Reginaldo Cariaso, Rizal Commercial Banking Corporation (RCBC) Global and Ecozone Segment Head Jose Rene Sarmiento and RCBC Vice President Claudine del Rosario.


Cirtek Holdings Philippines Corporation (CHPC) and Trillium International I, GP, as shareholder representative of Quintel Cayman, Ltd. announced the signing of a definitive agreement under which CHPC, through its subsidiaries, will acquire 100% of Quintel, a leading provider of advanced high-efficiency, high-performance antenna solutions. Upon closing, the transaction will immediately give CHPC a significant presence in the large and rapidly growing base station antenna market, estimated to be more than US$14 Bn by 2020.
Trillium International Funds have been shareholders in Quintel since 2007.

The Board of Directors of each company has approved the transaction, which is expected to close on July 31 2017, subject to customary closing conditions.CHPC intends to fund the transaction through debt financing.

Quintel is a leading innovator of spectrum and space-efficient base station antennas for wireless networks. Among Quintel’s major customers include two of the top 5 telecom carriers in North America.

Quintel recently expanded its industry-leading MultiServ™ Slimline Antennas portfolio. In addition to the 12-Port Multiband Antenna, Quintel now has 10 Port antennas, both of which come in 4, 6 and 8 foot lengths. This latest Slimline Antenna utilizes the same 12”/300mm wide form factor that all Quintel antennas use providing the industry’s only “One Size Fits All” portfolio of 6, 8, 10 and 12-Port antennas in the same single form factor.

According to CHPC Chairman Jerry Liu, “Quintel’s cutting edge R&D and product capabilities significantly add to and complement Cirtek’s growing portfolio in wireless communication, and is aligned with our business focus on high-growth market segments.”

“Further, being the Strategic Manufacturing Partner of Quintel products places us in a unique situation to achieve significant synergies through value engineering, research and development collaboration as well as cost reduction, resulting in high-quality, reliable and cost-competitive products,” said Mr. Roberto Juanchito Dispo, CHPC Vice Chairman and President.

“We are pleased that Quintel has achieved another milestone, becoming a major component of a large technology company with world-wide scope. Quintel has built a major business in North America, and through work with the Cirtek team will provide increasing innovation and valuable products world-wide, while making a positive impact on the regional economies in Rochester New York and San Jose California”, said Jose Coronas and Jim Stoffel, general partners of Trillium International.

“Quintel is extremely pleased to be part of the Cirtek team which immediately provides us with the horizontal growth opportunities as well as vertical integration with a highly capable manufacturing group to enhance our current product portfolio and improve our overall efficiencies,” said David Piazza, Quintel’s President. “Additionally, Quintel’s R&D innovations combined with Cirtek’s world class micro wave and millimeter wave product and manufacturing know-how will enable Quintel’s 5G product portfolio for tomorrow’s high growth wireless communication market.”

Additional Information
Credit Suisse is serving as exclusive financial advisor to CHPC, and Livnah Associates is serving as legal advisor. Stifel is serving as exclusive financial advisor to Trillium International Funds and Quintel, and Nixon Peabody is serving as legal advisor.

About Quintel
Quintel designs, develops and delivers advanced high-efficiency, high-performance antenna solutions that help mobile operators to increase efficiency, enhance quality-of-service, slash costs and accelerate ROI.
Quintel is radically transforming wireless infrastructure with feature-rich antenna technologies that make networks more efficient and more profitable. An innovator in low-impact and high-output solutions, Quintel simplifies rollout complexity with practical antenna solutions that quickly boost capacity and coverage within diverse heterogeneous networks. Quintel’s innovative MultiServ and SONwav product lines enable mobile operators to quickly and easily grow their networks and not their budgets.

About Trillium International Funds
Founded in 1997, Trillium Group is a Rochester, N.Y.-based private equity firm managing early stage venture capital and growth equity funds.
Trillium International’s primary focus is on growth equity investment opportunities. Their current portfolio consists of more than 20 companies in a broad range of industry sectors and businesses.

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