Over the past 20 years, Corning Services established itself as a long-term partner for telecom carriers, utility companies and other owners or operators of critical IT and telecom networks. Services include network monitoring, maintenance and operational support as well as design, project management, commissioning and system integration. Headquartered in Hannover, Germany, the Company employs c.80 highly skilled FTEs.
Since its foundation in 1998 as Quante Netzwerke, the Company has been acquired first by 3M and later by Corning. With the support of its new shareholder, Corning Services plans to accelerate growth in Germany and enter other European countries, benefiting from strong sector tailwind and a still fragmented competitive landscape.
“We thank Naif and his management team for their excellent work over the past years. We are convinced, that Chequers Capital will be a fantastic new majority owner, who will make available all necessary resources to further develop the business in the interest of its employees and clients.” Stephen Miller, VP Strategy at Corning Inc.
Wagram assisted Corning Incorporated (NYSE:GLW) in the carve-out and sale of Corning Services GmbH through an organized process for identifying the most relevant partner for the company.
Wagram was exclusive sell-side advisor to Corning Incorporated.