Generational Equity Advises TowerMRL in Investment by Newlook Capital

By Generational Equity


Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce an investment by Newlook Capital, Inc. in TowerMRL, Inc. The investment closed May 10, 2021.

Located in Cottage Grove, Wisconsin, TowerMRL (Tower) has been in operation for 16 years, and is a multi-service telecommunication tower construction company offering a variety of services related to installation, modification, construction, maintenance and repair of telecommunication towers and facilities.

Tower maintains over 20,000 sites across 36 states, with most of the major cell tower companies. Tower owners, Chris Mallon and Ross Royer, will continue to lead Tower’s 51 employees in day-to-day operations.

Newlook Capital (Newlook), located in Burlington, Ontario, Canada, is a private equity firm that currently manages two industry-specialized funds. Each fund has its own focused, experienced, and aligned management, and a defined strategy. Investing throughout Canada and the United States, with a preference for companies that exhibit a solid tangible assets base, Newlook is focused on, and current holdings include, industrial services in Canada and the United States, dental practices in Canada, and QSR in Canada.

“Chris and Ross have built an incredible business and we are extremely pleased to be partnering with them and further growing the company,” says Newlook’s CEO, Elroy Gust.

Gust added, “With this most recent partnership, we look forward to expanding the diversification of our revenue lines within the Fund II portfolio. With superior industry reputation and strong customer relationships, TowerMRL is well-positioned for growth.”

Ross Royer, Vice President of TowerMRL stated, “The shareholders of TowerMRL made a decision to transition the business in order to find an Investor with the resources, business expertise, and scale to manage and augment the rapid growth of the business. We found all of these in Newlook Capital and look forward to the continued growth of Tower with their partnership.”

Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team lead by Managing Director Mergers & Acquisitions, Stephen Dinehart, with support from Managing Director Mergers & Acquisition, Ryan Johnson, successfully negotiated the agreement. Senior Managing Director Brian Hendershot established the initial relationship with Tower.

“This is a winning partnership,” said Dinehart. “Newlook’s financial expertise, combined with Tower’s cell tower prowess, are a perfect combination to address the expanding needs of this industry.”

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit