MISHAWAKA, Ind., Dec. 01, 2021 (GLOBE NEWSWIRE) — Schurz Communications, Inc. (“Schurz”) announced today that it has completed the acquisition of Ohio-based fiber provider, The New Knoxville Telephone Company (NKTelco).
NKTelco is the sixth broadband business to join the Schurz portfolio that also includes a variety of cloud, digital, and advertising holdings. Schurz’ other regional broadband operations are: Antietam Broadband (Hagerstown, MD), Burlington Telecom (Burlington, VT), Hiawatha Broadband (Winona, MN), Long Lines Broadband (Sergeant Bluff, IA), and Orbitel Communications (Maricopa, AZ).
“Schurz’ acquisition of NKTelco helps to extend our broadband footprint across the country and furthers our mission of uniting people through communications services,” said Todd Schurz, President and Chief Executive Officer, Schurz Communications, Inc. “NKTelco is fully dedicated to providing the best possible communication services for its customers. We are beyond pleased to welcome NKTelco into the Schurz family and we look forward to supporting the business which will continue to be managed, serviced, and operated locally.”
NKTelco offers data, voice, and video services to residential and business customers in communities located throughout West Central Ohio. The company will continue to operate under the NKTelco brand and be managed locally in New Knoxville, OH.
“We are excited about our next chapter with Schurz Communications,” said Preston Meyer, General Manager of NKTelco. “The added support will enable us to more quickly expand our regional fiber network and add new services for our customers. And we are thrilled that the partnership also means expanded opportunities for NKTelco employees and greater involvement within our local communities.”
With the closing of the transaction, Schurz became an owner of NKTelco’s 4.5% investment in Com Net, Inc. (“CNI”), an Ohio-based communications company, which will enable greater connectivity throughout the state. Financial terms of the transaction were not disclosed. Moorgate Securities acted as financial advisor to Schurz Communications in connection with this transaction and Barnes & Thornburg served as legal advisor. Stifel served as financial advisor and FGKS Law served as legal advisor to NKTelco.
To learn more about Schurz Communications and its portfolio of broadband businesses visit https://www.schurz.com/properties/cable/
Schurz is a family-owned corporation that has been helping businesses, communities and individuals make meaningful connections for five generations. The Schurz legacy began in newspaper publishing, radio, and television, and today, the company remains committed to making information more accessible through the platforms and technology of the digital age. Schurz Communications’ recent investments include regional broadband companies and cloud managed services providers, and the company’s portfolio also includes a variety of minority investments. For more information, visit: www.schurz.com.
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