CONTERRA NETWORKS COMPLETES ACQUISITION OF GULF COAST REGIONAL FIBER-OPTIC PROVIDER
Transaction Increases Company’s Fiber Network to Approximately 10,000 Miles
Charlotte, North Carolina—April 9, 2018: Conterra Ultra Broadband Holdings, Inc. (“Conterra Networks”) announced today it has completed its previously announced acquisition of affiliated companies, Network USA, L.L.C. and Sun America Communications, LLC (combined, “Network USA”). Both companies are Louisiana-based regional fiber-optic network services businesses.
The completion of this transaction reinforces Conterra Networks’ position as a major fiber-optic service provider in the Gulf Coast and East Texas region. The acquisition adds nearly 3,000 route miles of fiber and increases Conterra Networks’ national fiber presence to approximately 10,000 miles further strengthening the company’s position as one of the largest independent providers of fiber-based network services.
“Our integration efforts are proceeding well ahead of schedule and we continue to find additional operational and network synergies, “commented Conterra Networks’ President and Chief Operating Officer, Craig Gunderson. “We have accelerated the merging of the two organizations to fully leverage the human capital and capabilities of both companies. The combined company will accelerate growth and strengthen Conterra Networks’ competitive position in the region.”
Network USA is a rapidly growing builder, owner, and operator of facilities-based lit and dark fiber primarily in Louisiana and East Texas with a successful operating history of nearly two decades. Network USA serves the same industry customer segments as Conterra Networks: wireless and landline carriers, healthcare organizations, government and mid-sized as well as Fortune 500 enterprises.
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 $4 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 Bank, CoBank, Bank of America, ING Capital, Fifth Third Bank, Regions Bank, and Webster Bank. Terms of the transaction were not disclosed.