Revive Infrastructure Group Hires New CFO; Acquires Assets of Gem State Fiber

Actions Significantly Enhance Revive’s Management Team and Fiber Splicing Capabilities

Revive Infrastructure Group, a leading provider of utility infrastructure services, announced today that it has appointed Ted Schulz as its Chief Financial Officer.

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Ted Schulz, CFO of Revive Infrastructure Group and Mike Shalz, Controller of Crown Utilities (Photo: Business Wire)

Ted is an accomplished global executive with a strong track record of successfully working across various service environments and manufacturing businesses. He brings proven expertise in large, complex multi-billion dollar organizations—and smaller organizations—with operating, internal and external reporting responsibilities, as well as accounting and reporting oversight.

“I am energized by the opportunity to work with such an exciting and fast-growing company. I look forward to working with the team to continue building the Revive platform,” said Schulz.

Revive also announced that it has acquired the assets of Shalz Construction Corp. (dba Gem State Fiber). Headquartered in Boise, Idaho, Gem State provides fiber splicing services to customers primarily in the Northwest United States. Terms of the transaction were not disclosed.

“We are thrilled to welcome the Gem State team,” said Andrew Watkins, President of Crown Utilities. “Gem State has been one of Crown’s go-to subcontractors for fiber splicing services for three years. As a result, we know from first-hand experience just how talented their team is, and we are excited to bring such high-quality fiber splicing capabilities in-house to better serve our customers.”

“Crown Utilities has become one of the fastest growing and most respected contractors in the Northwest market,” said Mike Shalz, owner and President of Gem State Fiber. “The opportunity to be part of such a great platform, to provide additional benefits and growth opportunities to my employees, and to reunite with senior leaders at Revive and Crown, with whom we have long standing personal and professional relationships, was just too good to pass up.”

Shalz will become Controller of Crown Utilities. After a transition period, Crown’s current Controller, Michael Melhorn, will move into a new position with Revive as its Manager of Financial Planning & Analysis. Both Shalz and Melhorn will report to Revive’s CFO, Ted Schulz.

“Nearly two years ago, we set out to build Revive Infrastructure Group into a world class platform in the utility infrastructure services sector,” said Chad Magee, Chief Executive Officer of Revive Infrastructure Group. “Our announcements today - adding an experienced CFO, a new Controller, and a talented team of fiber splicers - demonstrate our continued progress toward that goal.”

This is Revive’s fifth acquisition since Sileo Capital formed the company as part of the acquisition of Excel Utility Contractors in July 2021.

About Revive Infrastructure Group

Revive Infrastructure Group and its subsidiary operating companies, Crown Utilities and Excel Utility Contractors, provide utility infrastructure design, engineering, construction, installation, maintenance, and project management services to customers in the telecommunications, water, power, gas, and government industries. For more information, please visit www.reviveig.com.

About Sileo Capital

Sileo Capital (Si-lay-oh) is a unique independent sponsor that not only makes principal equity investments, but also provides strategy, operations, financial and transaction consulting. Sileo’s equity investments are focused on industries where its team has extensive transaction and operations experience (e.g., multi-unit, critical infrastructure services, government services, and waste management). Sileo deploys its financial and intellectual capital with North American-based companies where it can partner with intelligent, experienced people of high integrity and character to build businesses that it can be proud of and that generate attractive risk-adjusted returns for all stakeholders. For more information, please visit www.sileocapital.com.

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