Investel Capital Corp has completed its previously announced purchase of a minority interest in Coastline Broadcasting Ltd, a cable television operator and Internet service provider based in Courtenay, British Columbia. The financial terms of the deal were not disclosed. Investel said its subsidiary, Teliphone Navigata-Westel Communication Inc, will now become directly involved in the business development of Coastline. With offices in Vancouver and Toronto, Investel specializes in the acquisition of distressed and underachieving telecom companies.
Investel Capital Corporation Announces Completion of the Acquisition of a Minority Interest in the Share Capital of Coastline Broadcasting Ltd.
VANCOUVER, Oct. 3, 2014 /CNW/ – Following the agreement executed in July 2013, Vancouver-based Investel Capital Corporation is pleased to announce that it has completed the acquisition of a minority interest in Coastline Broadcasting Ltd. of Courtenay, British Columbia.
The transaction which closed in September 2014 provides Investel with a minority position in Coastline share capital. Marc St-Pierre and his family trust remain majority owners of the company. Anne-Marie Poudrier, Investel’s President, has been appointed as the President and sole Director of Coastline.
As a result of this transaction, Investel’s wholly-owned subsidiary, Teliphone Navigata-Westel Communication Inc. (TNW) will now become directly involved in the future development of Coastline and will allow Coastline to offer full Triple-Play solutions consisting of phone, television and Internet services. Coastline will have access to TNW’s national state-of-the-art voice and data network as well as its comprehensive experience in these areas. Furthermore, this will allow Coastline to implement its strategic plan which includes the creation of a network of “connected villages” offering extensive high speed Wi-Fi coverage throughout the villages to its subscribers . This will be of great value in remote areas or isolated communities as well as in urban centres.
Marc St-Pierre stated, “Having Investel as a shareholder and the direct involvement of TNW will assure the rapid development of the company and significantly improve the customer experience by providing access to all the enhanced telecommunications services needed in a modern world regardless of the client’s location”.
About Investel Capital Corporation
Investel Capital Corporation, is an investment fund specializing in the acquisition of telecommunications companies. With offices in Toronto and Vancouver, Canada, it focuses on investing in both distressed and underachieving telecom companies that have recurring revenue but low profitability.
About Teliphone Navigata-Westel Communication Inc.
From its origin in 1957 as BC Rail Telecom, to its evolution into Teliphone Navigata-Westel, the company, with 130 staff, is now one of the largest independent facilities-based Competitive Local Exchange Carriers (CLEC) in Canada. TNW’s entire network has been designed with a major focus on being able to serve its data center clients with unsurpassed access, reliability and cost-effectiveness. Overall the company provides voice, data, broadband Internet, IT support, cloud computing, co-location data centers and IPTV service across Canada. TNW services carriers, business, government and residential customers on its national network which includes a wireless backhaul network, a trans-Canada SONET fibre optic network and multiple CLEC/ILEC Central Office (CO) facilities. TNW also operates a US network and its voice and IPTV services are available in 47 countries.
About Coastline Broadcasting Ltd.
Coastline Broadcasting Ltd. is a cable television operator and Internet Service Provider in Canada. It is headquartered in Courtenay, British Columbia.
SOURCE Investel Capital Corporation
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