For more than two decades, Tristellium has been at the center of the industry's most consequential transactions, representing more than $250 billion in combined deal value.
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We come in at any stage of a deal and stay as long as the work requires.
We run the technical and operational diligence a financial advisor doesn’t. That means independent infrastructure modeling, site visits, and going directly to technical teams to verify the seller’s numbers.
Day 1 doesn’t run itself. Before closing, we build the governance structure, cross-functional plans, and information-sharing protocols that every business unit needs to operate from the moment the deal is done.
A major North American ISP was acquiring a fiber operator covering 1.2 million homes across more than a dozen markets. Tristellium led the technical due diligence and structured the post-close agreements. A bottom-up analysis showed upgrade costs were more than double the seller's estimate, resulting in a valuation adjustment of more than $500 million. Twenty-plus agreements were locked in before signing, giving the buyer the leverage to close on the right number and the coverage to run the business on Day 1.
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On large mergers, we stand up and run the IMO. The same team that holds the governance framework is embedded inside each business unit doing the actual work. We’re not just overseeing the plan, we’re executing it.
We stay in after close, often for a year or more, to work through technical integration across platforms and systems, organizational alignment and ensuring the cost and revenue the deal was built around get captured.
Not every deal is an acquisition. Separating two entities runs in the opposite direction from an integration, but the stakes are the same. We’ve built and launched independent operations from scratch — against hard regulatory deadlines, before the client had a team in place.
A cable operator was preparing for one of the largest mergers in US telecom history, with more than a dozen BUs that needed to integrate without disrupting customers. Tristellium stood up the IMO during due diligence and ran it through close...
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Tristellium works with cable operators, fiber and broadband providers, broadcasters, streaming platforms, and digital media companies — on the buy side, the sell side, and on separations. We also work with private equity firms on fiber network assessments, acquisition planning, integration management, and synergy realization for media, cable, and telecommunications assets.
When we walk into due diligence or an integration, we already know what we're looking at. We're not learning the industry on the job.
Clients tell us the same thing: Our work doesn’t look like a previous project with different numbers pasted in. We build models from the ground up, run our own site visits, and reach our own conclusions — even when that means delivering a valuation that changes the deal.
We don't hand over a plan and leave. Whether that means running an IMO through close or staying in for a year of postmerger work, we're accountable for what happens.
Media, cable, and telecom deals are complex from the start. Tristellium handles the full run.
Talk to Tristellium
212-470-5850
430 W 14 Street
New York NY 10014