Alltel ex-execs form investment, consultancy group

Former executives of Alltel, acquired by Verizon Wireless in January, have formed a telecom consultancy and investment firm based in Alltel’s former home of Little Rock, Ark.

The Circumference Group, led by Alltel’s former chief operating officer Jeff Fox, also includes its former chief marketing officer Frank O’Mara and four other onetime top managers.

In addition to helping telecom firms with due diligence and planning, according to the Arkansas Democrat-Gazette, “The company plans to act as a ‘co-investor’ on large projects along with partners such as private equity firms, especially purely investment companies without an operating team on their day-to-day payroll.”

The Circumference Group is actually the second Little Rock investment and consulting firm created by former Alltel folk in the wake of the Verizon deal, the Dem-Gaz pointed out. Alltel’s former CEO Scott Ford formed Westrock Capital Partners together with his father, Joe Ford, who was also Alltel’s chairman until 2007, and its former chief strategy officer and general counsel Richard Massey.

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