WOW Internet, Cable and Phone has announced the purchase of Atlanta area cable operator NuLink from New York private equity firm Halyard Capital for $53 million.
NuLink serves 34,000 customers in Newnan, Ga., which is about 40 miles southwest of Atlanta.
According to a WOW 8K filing with the SEC, NuLink reported $8.4 million in adjusted EBITDA for the fiscal year ending Dec. 31, 2015. The transaction is set to close at the end of the year.
NuLink spun off from Newnan utilities in 2008 andupgraded its network in 2011 to provide a full suite of internet, cable TV and phone services.
"We plan to continue investing in the local network infrastructure to bring even faster Internet to residential and business customers with speeds as high as 1 Gbps. All of us at WOW! are committed to providing an outstanding customer experience and we look forward to serving the community," said Steven Cochran, CEO of WOW, in a statement.
"Since our start in 1997, we have continued to invest in the NuLink system and joining WOW! is the right next step for the Newnan community," added Dan Shoemaker, CEO of NuLink, in a statement.
Separately, WOW announced that its business services unit announced is now offering fiber-based internet, data and voice services to commercial tenants in eight downtown Tampa buildings.
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