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Global alternative asset manager The Carlyle Group has completed the acquisition of CommScope, Inc. (NYSE: CTV), a global leader in infrastructure solutions for communications networks.
As previously disclosed, Marvin S. “Eddie” Edwards Jr., CommScope’s current president and chief operating officer, has been appointed president and chief executive officer, succeeding Frank M. Drendel. Drendel has served as CommScope’s CEO since founding the company in 1976. Edwards has also joined CommScope’s board of directors, and Drendel will continue as the chairman of the board.
“CommScope has made many important advancements in supporting customers with infrastructure solutions over the last 35 years, and I am confident that this combination with Carlyle is a great step forward in our company’s progress,” said Drendel. “Our merger with Carlyle is the start of a new phase for CommScope, and the company is well-positioned to excel in helping customers while benefiting from key industry drivers such as cloud computing, mobility, video, and social networking. On behalf of CommScope’s board of directors, I thank our stockholders and dedicated employees for their support throughout this process.
“Eddie is a proven and excellent leader with an intricate knowledge of our business; I have the utmost confidence in him and believe that under his oversight CommScope will achieve even greater success in the years ahead. I look forward to continuing to work with him and the entire CommScope management team as we work to build upon our industry-leading position for the benefit of our customers around the world.” Edwards joined CommScope in 2001, and became president and chief operating officer in 2009.
“This is an exciting time for CommScope, and we are thrilled to complete this transaction,” said Edwards. “Our customers will continue to receive the outstanding technologies, solutions and support that they have come to expect from CommScope, as our commitment to serving their needs remains constant.