Ohio-based fiber-optic broadband company Horizon, backed by private equity firm Novacap, has acquired the commercial fiber business of Consolidated Cooperative. Financial terms were not disclosed.
This is technology M&A deal number 390 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
The deal adds about 450 route miles of fiber to Horizon’s existing all-fiber network, growing its reach north of Columbus, Ohio, through Delaware, Marion, and Richland counties. Horizon is backed by Canadian private equity firm Novacap.
Consolidated Cooperative will continue to provide electric service to its members in Central Ohio, in addition to providing propane, natural gas, and residential fiber internet services throughout the region.
Horizon Acquires Consolidated Cooperative: Executive Perspectives
Jim Capuano, CEO and president, Horizon, commented:
"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. 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."
Phil Caskey, president and CEO, Consolidated Cooperative, said:
"Consolidated has always focused on helping our members and communities improve their quality of life by providing best-in-class services at affordable prices. 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."
Novacap: Private Equity for IT Services and Enterprise Application Experts
Novacap has extensive private equity experience in and around the IT services market. For instance, the private equity firm also backs Syntax, an expert in mission-critical applications such as SAP on Amazon Web Services (AWS).
