Novacap-backed Horizon buys Consolidated’s fiber business

Horizon, a Columbus, Ohio-based fiber-optic broadband company, has acquired Consolidated Cooperative's commercial fiber business to expand its Midwest footprint.

Horizon, a Columbus, Ohio-based fiber-optic broadband company, has acquired Consolidated Cooperative’s commercial fiber business to expand its Midwest footprint. No financial terms were disclosed. Horizon is backed by Canadian private equity firm Novacap and GCM Grosvenor.

PRESS RELEASE

COLUMBUS, Ohio, Aug. 31, 2021 /PRNewswire/ — Horizon, a fiber-optic broadband company operating out of Columbus, Ohio, announces today that it has acquired Consolidated Cooperative’s commercial fiber business to expand its Midwest footprint and better meet the needs of its growing customer base. The acquisition adds 450 miles of fiber into Horizon’s existing Columbus network and extends it north through Delaware, Marion and Richland counties. Consolidated will retain its residential fiber internet services.
Consolidated Cooperative serves more than 18,000 consumers in Central Ohio with electric, gas, and fiber internet services. Consolidated initiated its commercial fiber services in 2009. Its separate residential fiber internet business was launched in 2017.

“Horizon remains committed to expanding its network capabilities and geographic reach in order to continue meeting the evolving communications and connectivity needs of businesses and communities throughout the Midwest,” says James Capuano, Chief Executive Officer of Horizon. “Consolidated’s proven ability to deliver ultra-high-speed broadband internet and data services with high levels of performance, availability, flexibility and redundancy affirms that these infrastructure assets will deliver exactly the next-gen capabilities organizations are looking for. We’re excited to supplement our existing capabilities and make this mutually beneficial step toward a more connected future.”

“The enterprise fiber business has exceeded our goals and expectations for it, which were primarily to improve our electric operations, set us up to offer broadband internet service in the future, and help to pay for all that by selling capacity to third parties,” says Phil Caskey, Consolidated Cooperative President and CEO. “At this juncture, we determined that the best path forward for Consolidated, our members, and our communities is to focus on growing our electric, gas, and residential fiber internet services. Selling our commercial fiber business to Horizon will allow us to do that, and we know Horizon will continue to provide outstanding service to commercial organizations in our region.”

Consolidated’s current commercial fiber customers will not see any interruption in their service. Horizon will continue to serve customers according to their contracts.

ABOUT HORIZON
Horizon is a facilities-based, fiber-optic broadband service provider based in Ohio with expanding services across the Midwest. Operating 5,500+ route miles of fiber, Horizon provides high-quality connectivity solutions for small to large enterprise and wholesale carrier customers, where high-reliability and high availability are critical. The extensive network offers high speed Ethernet, Dedicated Internet Access, Hosted Voice and UCaaS, dark fiber, wavelength, and data center connectivity services. Horizon partners with carriers, government, healthcare, education, and enterprise businesses offering flexible and customizable fiber network solutions with a remarkable commitment to customer care and cutting-edge fiber-optic technology. For more information, visit horizonconnects.com.