Horizon, which is backed by Novacap, has acquired Consolidated Cooperative’s commercial fiber business. No financial terms were disclosed. Consolidated Cooperative is a not-for-profit provider of electric, gas, and fiber services to more than 16,000 members in eight Central Ohio counties. Horizon is a Columbus, Ohio-based fiber-optic broadband company.
COLUMBUS, Ohio, April 14, 2022 /PRNewswire/ — Horizon, an Ohio-based fiber-optic broadband company, today announces that it has completed the acquisition of Consolidated Cooperative’s commercial fiber business on March 31, 2022. The strategic acquisition adds approximately 450 route miles of fiber to Horizon’s existing all-fiber network, further expanding its footprint north of Columbus, Ohio, through Delaware, Marion and Richland counties. Horizon is backed by experienced telecom investors led by Novacap. Financial terms of the transaction were not disclosed.
Consolidated Cooperative will continue to provide electric service to its more than 16,000 members at 18,000 locations in central Ohio, in addition to providing propane, natural gas, and residential fiber internet services throughout the region. In an earlier release, Consolidated announced the sale of its commercial fiber business unit, along with plans to expand its residential fiber offering to more customers within its service territory.
Horizon and Consolidated Cooperative are committed to ensuring a smooth transition with quick and effective integration of the commercial fiber networks. Current Consolidated commercial fiber customers will not see any interruption in their service, and Horizon will continue to serve customers according to their existing agreements.
Business customers will have access to Horizon’s full suite of fiber services, including high-speed internet, Ethernet, hosted voice, cloud connections, dark fiber, wavelengths, and data center connectivity across the Midwest. Horizon’s enterprise fiber network solutions are fast, flexible, high-quality, reliable, and scalable to ensure businesses meet their evolving demands for connectivity.
“Horizon has worked closely with Consolidated Cooperative for many years as wholesale providers, enabling us to sell to customers that have facilities within Horizon’s existing service territory, as well as additional sites in the Consolidated commercial fiber network footprint,” says Jim Capuano, CEO and President of Horizon. “This acquisition will allow us to continue to deliver outstanding customer experiences, and customers can expect a seamless transition to Horizon’s dedicated support. Our experienced local commercial sales teams are ready to assist companies and empower their mission-critical network and fiber service demands.”
“Consolidated has always focused on helping our members and communities improve their quality of life by providing best-in-class services at affordable prices,” says Phil Caskey, President and CEO of Consolidated Cooperative. “We are thrilled to have found a partner who shares our passion for community and value. Working together with Horizon will allow both organizations to accelerate the ability of Consolidated’s members and communities to benefit from the growing opportunities that come from having an all-fiber-optic network throughout our territory.”
As Horizon dramatically accelerates its fiber footprint across the Midwest, the company is also growing its sales and operations teams to support these expansion initiatives.
Horizon is a facilities-based fiber-optic broadband service provider based in Ohio, West Virginia, Western Pennsylvania, and Indiana with expanding services across the Midwest. Operating 6,000+ route miles of fiber, Horizon provides high-quality and flexible connectivity solutions to residential, small to large enterprise and wholesale carrier customers. The company’s extensive network offers high-speed Ethernet, Dedicated Internet Access, Hosted Voice and UCaaS, dark fiber, wavelength, and data center connectivity services. Horizon’s entrepreneurial heritage and long-standing commitment to remarkable customer care ensures its devotion to connecting its customers to their worlds with cutting-edge technology. For more information about Horizon’s brand promise, visit horizonconnects.com.
Founded in 1981, Novacap is a leading Canadian private equity firm with more than C$8B of AUM that has invested in more than 100 platforms and 150 add-on acquisitions. Applying its sector-focused approach since 2007 in TMT, Industries and now Financial Services, Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial funding, Novacap has the resources and knowledge to build world-class businesses. Novacap has offices in Brossard, Quebec and Toronto, Ontario. For more information, please visit www.novacap.ca.
ABOUT CONSOLIDATED COOPERATIVE
Consolidated Cooperative is a not-for-profit, consumer-owned cooperative that provides electric, gas, and fiber services to more than 16,000 members in eight Central Ohio counties. To learn more about Consolidated Cooperative, visit consolidated.coop.