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QualTek reported a strong Q3 2021 with revenues of $215.5M and net income of $19.1M. The company anticipates a full-year adjusted EBITDA between $72M to $77M and has a strong backlog of $1.7B. Two acquisitions were completed, contributing to new contracts in 2022. QualTek projects adjusted EBITDA for FY 2022 to range from $100M to $120M. The merger with Roth CH Acquisition III Co. (ROCR) is anticipated to occur in Q4 2021 or Q1 2022, contingent on shareholder approval.
QualTek announced the acquisition of Urban Cable Technology, a regional telecom company based in West Chester, PA, enhancing its service offerings in the Northeast. This strategic acquisition supports QualTek's growth strategy in the telecom sector, complementing its existing capabilities in the 5G wireless and renewable energy markets. Although the transaction details were undisclosed, it is expected to bolster QualTek's operational footprint. QualTek is preparing for its upcoming public listing via a merger with Roth CH Acquisition III Co. (NASDAQ: ROCR), projected to close in Q4 2021.
QualTek announced that CEO Scott Hisey will be a panelist at the Milken Institute Global Conference on October 19, 2021, in Los Angeles. The discussion will focus on 'Leading A New Workforce: Challenges and Opportunities.' QualTek specializes in infrastructure services for 5G wireless, telecom, and renewable energy sectors across North America, with over 5,000 employees and 80 operational centers. The company is set to go public following a merger with Roth CH Acquisition III Co. (NASDAQ: ROCR), expected to finalize in Q4 2021, subject to customary conditions.
QualTek, a provider of infrastructure services, has announced Q3 2021 Adjusted EBITDA guidance between $40 million and $42 million, benefiting from recovery logistics operations post-Hurricane Ida and notable contract wins. The company is forging ahead with its merger with Roth CH Acquisition III Co. (NASDAQ: ROCR), expected to finalize in Q4 2021. QualTek aims to expand its national footprint supported by over 85 operation centers and a workforce of 5,000+, positioning itself as a leader in the telecom and renewable energy sectors.
Roth CH Acquisition III Co. (NASDAQ: ROCR) announced it received a notice from Nasdaq on August 25, 2021, regarding non-compliance with periodic filing requirements due to the late submission of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021. The Company faced challenges completing the financial statements in time. However, upon filing the Form 10-Q on the same day, it regained compliance, avoiding the need for a formal plan to address the issue. The Company aims to focus on business combinations in sectors such as healthcare and technology.
QualTek, LLC announced a business update regarding its preliminary first half 2021 results and guidance for 2021-2022. The update follows the acquisition of Broken Arrow Communications Inc. QualTek, a provider of infrastructure services in the North American 5G wireless and renewable energy sectors, operates over 80 centers and employs more than 5,000 people. Additionally, Roth CH Acquisition III Co. (ROCR) plans to file a proxy statement in connection with the proposed business combination. Investors are urged to review these documents for crucial details.
BCP QualTek HoldCo has entered a definitive agreement with Roth CH Acquisition III Co. (NASDAQ: ROCR) for a business combination, making QualTek a public company under the new ticker symbol QTEK. The merger is expected to close in Q3 2021, with $66 million from a PIPE investment and $44 million in convertible notes intended for working capital and acquisitions. QualTek, a provider of infrastructure services in the 5G, telecom, and renewable energy sectors, boasts a $1.7 billion backlog and over 5,000 employees. The transaction values the combined company at approximately $829 million.
On May 28, 2021, Roth CH Acquisition III Co. (Nasdaq: ROCRU) received a notice from Nasdaq regarding non-compliance with filing requirements due to a late submission of its Form 10-Q for Q1 2021. The Company has 60 days to submit a compliance plan but maintains that this notice does not immediately affect trading. The delay was attributed to challenges in completing financial statements. However, compliance was regained by filing the Form 10-Q on June 2, 2021, alleviating the need for further action.
