Cherry Tree Advises Renodis in Acquisition of The Eric Ryan Corporation
“We are excited to welcome the ERC team and its clients to our company. This is our fifth acquisition on our continued growth journey and will expand our brand along the East Coast. Renodis’ most important priority has always been ensuring the resiliency of our clients’ connectivity, advising on the right technologies, and providing best-in-class managed solutions.”
— Craig Beason, CEO and Owner of Renodis
Utility and Telecommunications Management Services Provider
Ellwood City, PA
Strategic Advisor to Acquirer
Renodis is a leading telecommunications and mobility management services company based in Saint Paul, MN. In September 2022, Renodis acquired Eric Ryan Corporation (ERC), which is headquartered in Ellwood City, PA, 40 miles north of Pittsburgh. ERC is a provider of utility and telecommunication management services. Following the transaction, ERC will be an entity under the Renodis umbrella. This transaction expands Renodis’ footprint to the East Coast and adds utility management services as a new service offering.
Cherry Tree’s Role
Cherry Tree served as a buy-side M&A advisor to Renodis, helping the company identify numerous acquisition targets with offerings that align with the company’s growth strategy. Renodis was a target identified during Cherry Tree’s prospect evaluation. Throughout the process, Cherry Tree assisted Renodis with financial modeling, due diligence, and negotiation of the purchase agreement.
Renodis is a connectivity technologies consulting, sourcing, and managed services firm. We help enterprises accelerate their copper-to-cloud journey resulting in less frustration from managing legacy technologies and suppliers, better utilized IT talent, and improved support experience for their offices and people. All while client experience skyrockets and IT costs are reduced. A Saint Paul, Minnesota-based company since 2002, Renodis has helped hundreds of organizations with their connectivity technology transformations. Find out more at Renodis.com.
About Eric Ryan Corporation
The Eric Ryan Corporation (ERC) has been in operation since 1990 providing utility and telecommunications consulting and auditing services to over 11,500 customers throughout the US and Canada. Based near Pittsburgh, PA, the company has been a leader in the hospitality industry and one of the nation’s largest and well-recognized utility and telecommunication consulting and management firms. ERC specializes in cost reduction through bill analysis, utility bill consulting, telecommunications bill consulting, rate reviews, and energy management services including energy incentives, energy rebates, and energy efficiency grants. Their telecommunication services include 24/7 help desk, cellular optimization, telecom services pricing, network design, circuit monitoring, security, and new construction management. ERC has provided cost-savings solutions for thousands of businesses in the educational, governmental, hospitality, commercial, retail, health care, non-profit, and industry sectors of the marketplace. Find out more at EricRyan.com.
About Cherry Tree
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for high quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, please visit: www.cherrytree.com.