Telecommunications Acquisitions in Ohio

Omni Fiber and Lit Fiber have agreed to merge, consolidating Lit Fiber's Medina County, Ohio network into Omni Fiber to accelerate fiber-to-the-home expansion and speed market rollout. Both companies are majority-owned by Oak Hill Capital; existing Lit Fiber shareholders Stephens Capital Partners and The Pritzker Organization will remain minority investors and continue to support the business.

Shenandoah Telecommunications Company (Shentel) acquired 100% of Horizon Telcom for $385 million ($305M cash and $80M in Shentel stock), a transaction announced Oct. 24, 2023 and completed April 1, 2024. The deal, which represented an exit for Novacap and included GCM Grosvenor exchanging its Horizon equity for Shentel shares, expands Shentel's commercial fiber footprint into Ohio and accelerates its Glo Fiber FTTH expansion.

Nitel has acquired Cleveland-based WAN Dynamics to strengthen its managed SD-WAN, network, and security capabilities. Operating under the Nitel brand, the transaction expands technical, management, and professional services resources as part of Nitel's growth strategy following Cinven's earlier investment.

Pavlov Media has acquired iZone Broadband, a small regional ISP serving parts of Central Ohio (SW Knox, NW Licking and NE Delaware counties). The acquisition expands Pavlov Media's residential and business service footprint into Central Ohio and brings iZone customers onto Pavlov's national broadband backbone and customer support resources.

Zentro, a Midwest MDU-focused ISP, acquired Ohio-based Snip Internet to expand its multi-dwelling-unit footprint across the region. Backed by private equity firm M/C Partners, the combined business now serves roughly 1,200 buildings and 61,000 subscribers across multiple metro markets; Houlihan Lokey advised Snip on the transaction.

Plymouth, Michigan-based VERITÀ Telecommunications acquired Taylor Telecommunications Inc., adding Taylor’s ~130 employees, equipment and Outside Plant (OSP) capabilities to VERITÀ’s operations. The deal expands VERITÀ’s coverage in the Great Lakes (Cleveland, Akron, Youngstown, Columbus) and is expected to materially boost revenue and create additional jobs; Taylor will operate as a division of VERITÀ.

Omni Fiber completed the acquisition of Port Clinton–based Ohio Telecom, Inc. on November 30, 2022 to accelerate its FTTP expansion across Northern Ohio. The deal brings Ohio Telecom employees and customers into Omni Fiber, enables upgrades to Omni's 100% fiber network (up to 2 Gbps) in existing and adjacent markets, and positions Omni to speed planned construction in Sandusky, Perkins Township and Fremont.

UPSTACK acquired ChaseTek Partners LLC, an independent telecom agency and technology consultancy founded in 2004 that serves multilocation businesses. As part of the deal, ChaseTek founders Chris Wolfe and Michael Marlowe will join UPSTACK as Partners and Managing Directors and a team of eight technology specialists will integrate into UPSTACK's support organization; terms were not disclosed.

Oak Hill Capital committed $250 million from its Oak Hill Capital Partners VI fund as the majority investor in newly formed Omni Fiber to accelerate construction of 100% fiber-to-the-premises networks serving small and mid-sized markets in the U.S. Midwest. Omni Fiber, an Ohio-based FTTP internet service provider led by CEO Darrick Zucco, will offer up to 2 Gbps symmetrical service with no data caps and initial projects in Ohio, Pennsylvania and Michigan targeting underserved communities.

World Cinema, Inc. (WCI) has entered into an agreement to acquire Ohio-based Hospitality WiFi LLC, combining WCI's video and property-technology capabilities with Hospitality WiFi's managed wired and wireless networking services for the hospitality sector. The deal creates a converged services provider serving roughly 7,000 properties (about 900,000 rooms) and aims to expand capabilities across in-room entertainment, networking, digital signage, smart building and common-area video intelligence.

altafiber (formerly Cincinnati Bell) has closed its acquisition of Agile Network Builders, LLC, a Canton, Ohio-based provider of hybrid fiber-wireless networks and wireless infrastructure leasing. The deal expands altafiber's middle-mile, last-mile and wireless infrastructure capabilities across Ohio and neighboring states, supporting connectivity for public safety entities, carriers and rural ISPs.

Thomson Broadcast has signed a definitive agreement to acquire GatesAir from an affiliate of The Gores Group, with the transaction expected to close in the second half of 2022 subject to regulatory approvals. The combination will pair Thomson's DTV and AM radio transmission expertise with GatesAir's over-the-air broadcast transmission products and services to create a larger, more capable, turnkey broadcast solutions platform; terms were not disclosed.

ADB Companies, a portfolio company of Warren Equity Partners, has acquired PrimeTech Communications, a Cincinnati-based provider of utility and telecommunications construction services. The acquisition expands ADB's geographic footprint in the Midwest and augments its wireline capabilities as part of ADB's rapid inorganic growth plan.

Macquarie Infrastructure Partners V (MIP), via Macquarie Asset Management, completed an all-cash acquisition of Cincinnati Bell Inc. for approximately $2.9 billion including debt. The deal (at $15.50 per share) takes Cincinnati Bell private and is intended to accelerate the company’s fiber build and support strategic investments in its CBTS IT services business.

Horizon, a Columbus-based fiber-optic broadband provider, has acquired Consolidated Cooperative’s commercial fiber business, adding approximately 450 route miles of fiber and expanding Horizon’s Midwest footprint into Delaware, Marion and Richland counties. Consolidated Cooperative will retain its residential fiber internet services while Horizon will continue serving acquired commercial customers under existing contracts.

Lynn Electronics completed its acquisition of Total Cable Solutions (TCS), a Springboro, Ohio manufacturer of telecom and data center cable products. The deal expands Lynn's product portfolio and manufacturing capacity—adding a third 11,500 sq. ft. facility—and strengthens its position in the telecom and data center markets.

DartPoints, a Dallas-based owner and operator of edge colocation data centers, has acquired Metro Data Centers (MDC), a carrier-neutral data center provider in Dublin, Ohio. The acquisition expands DartPoints' regional footprint and adds over 22,000 square feet of colocation and carrier-neutral interconnection capacity to support cloud and content service providers in Central Ohio.

Watch Communications has acquired West Central Ohio Internet Link (WCOIL), a Lima, Ohio-based ISP that serves more than 2,000 customers and provides broadband, business phone, managed IT, security and cybersecurity services. The purchase expands Watch Communications’ footprint in central Ohio and adds WCOIL’s service capabilities and local team to Watch’s rural-focused broadband platform.

Momentum Telecom, an Atlanta-based cloud communications provider, has agreed to acquire Cleveland-headquartered DCT Telecom Group, a provider of cloud voice and network solutions. The deal expands Momentum's geographic presence and enterprise customer base while adding complementary managed broadband, internet and cloud voice capabilities to its platform; terms were not disclosed.

ETAK Systems, a Charlotte-based portfolio company of Mosaic Capital Partners, has acquired an Ohio-based provider of wireless tower construction and site-acquisition engineering services. The add-on expands ETAK's geographic coverage into the Ohio Valley, adds tower crews and site management capabilities, and allows ETAK to integrate drone mapping and 3D modeling into the target's site-acquisition work.