Avista Capital completes Telular acquisition
NEW YORK and CHICAGO—Avista Capital Partners has completed the acquisition of Telular, according to a news release.
As previously announced, Joe Beatty has stepped down as CEO of Telular as part of the closing. Avista Capital’s Allen Yurko will act as interim CEO while the board of directors conducts a search for a permanent successor, the release noted.
“I am very pleased to be joining Telular at this exciting time,” Yurko said in the statement. “I look forward to working with Telular’s strong existing management team to ensure that our customers continue to receive the very best service and solutions available.”
Yurko added that Telular will continue to pursue its plan for growth in the machine-to-machine communications sector.
“As a platform company, Telular gives us the opportunity to leverage its expertise and scale in the machine-to-machine sector to pursue acquisitions in the company’s current end markets as well as adjacent verticals,” Brendan Scollans, partner at Avista Capital, said in the statement.
Telular is the parent company of Telguard, a provider of wireless alarm monitoring solutions.