CommScope elevated Eddie Edwards Jr. to the position of president and CEO as the cable and telecommunications infrastructure company completed its $3.9 billion deal with private-equity firm Carlyle Group to go private.
As previously disclosed, Edwards, currently president and chief operating officer, will take over for Frank Drendel. Drendel, who has served as CommScope's CEO since founding the company in 1976, will continue as the chairman of the board.
Hickory, N.C.-based CommScope sells coaxial cable, optical solutions and related products to cable operators, as well as wireless equipment and cabinets for DSL and fiber-to-the-node networks.
"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," Drendel said in a statement.
Edwards joined CommScope in 2001 and served as executive vice president of business development, as well as chairman of the company's Connectivity Solutions Manufacturing Inc. subsidiary. In 2009, he was named president and chief operating officer. In addition to his CEO duties, Edwards will join CommScope's board.
Before CommScope, Edwards was president and CEO of OFS Fitel and OFS Brightwave, a joint venture between CommScope and The Furukawa Electric Co. He has also served in various capacities with Alcatel, including president of Alcatel North America Cable Systems.
"This is an exciting time for CommScope, and we are thrilled to complete this transaction," Edwards commented. "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."
With the Carlyle transaction complete, CommScope stock ceased trading on the New York Stock Exchange before the opening of trading on Friday, Jan. 14, and will be delisted.
For CommScope, Allen & Co. served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor. Carlyle engaged J.P. Morgan as financial advisor and Alston & Bird LLP and Latham & Watkins LLP were legal advisors.
On Jan. 7, CommScope completed the sale of its wireless test and measurement product line to Anite, a provider of solutions to the international wireless industry based in Finland, for an undisclosed sum.
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