Conterra Networks, which is backed by Court Square Capital, has agreed to acquire Longview, Texas-based Network Communications, a regional fiber-optic-based telecommunication services business. No financial terms were disclosed.
CHARLOTTE, N.C., Aug. 21, 2018 /PRNewswire/ — Conterra Ultra Broadband Holdings, Inc. (“Conterra Networks”) today announced the signing of an agreement to acquire Network Communications Telecom (“Network Communications”), a Longview, Texas-based regional fiber-optic-based telecommunication services business.
This transaction will expand Conterra Networks’ fiber in two of its largest operating states, Texas and Louisiana. Network Communications’ network will significantly increase the fiber density in Shreveport, Louisiana and East Texas and add last-mile and regional transport access to thousands of enterprise businesses in the region. The acquisition is expected to close August 31, 2018 and is complementary to the recently completed acquisitions of Network USA and Detel that also provide fiber-based services to Louisiana and East Texas.
“As Conterra continues to strengthen its ability to serve large multi-site customers with fiber-based services, this is another important acquisition as it expands our fiber networks to adjacent communities and deepens our coverage in the East Texas and Louisiana region. Network Communications possesses a highly talented team of telecommunication professionals focused on providing business customers with exceptional services from a competent team who live and work in the communities they serve. In addition to their leading-edge fiber network, they bring an evolved set of efficient processes, a broad set of products and important systems to serve the enterprise segment,” commented Craig Gunderson, Conterra’s President and Chief Operating Officer.
Across its purpose-built fiber networks, Network Communications delivers a broad suite of voice and data services. It has distinguished itself as a customer-focused organization during its almost 30 years of operation.
Network Communications’ President and CEO, Tony Cason, noted: “In the markets we serve, Network Communications is uniquely known for providing personal service by industry experts that are highly responsive to our customers and heavily involved in the local community. Our commitment is to preserve this hard-earned reputation and continue to grow our capabilities to our customers. This combination supports this commitment as Conterra shares a passion for customer service excellence and giving back to the communities they serve.”
Conterra Networks is one of the largest remaining independent broadband infrastructure companies in the United States based on its fiber assets and revenues. The company is majority owned by Court Square Capital, a private equity firm with approximately $6 billion of assets under management, with the remaining ownership largely held by Conterra Networks’ management team. The company’s other institutional financial partners include Toronto Dominion Securities, CoBank, Bank of America, ING Capital, Fifth Third Bank, Regions Bank, and Webster Bank.
Terms of the transaction were not disclosed, and the transaction remains subject to customary closing conditions.