Knology (KNOL) Acquires Assets of Private Cable Co.
Knology, Inc. (Nasdaq: KNOL) has closed on the acquisition of the assets of Private Cable Co., LLC ("PCL Cable") for $7.5 million in cash. PCL Cable, a provider of video, voice and data services to residential and business customers in Athens and Decatur, Alabama, generates approximately $5 million in annualized revenue and $1.5 million in annualized EBITDA, before considering potential synergies.
M. Todd Holt, Knology's President and Chief Financial Officer, said, "We are very excited to welcome the employees of PCL to the Knology family. This transaction is a nice fit with Knology both from an operational and financial perspective. The PCL Cable business will operate as an extension of our existing Knology operation in Huntsville, Alabama. The transaction will be immediately accretive, before synergies, to EBITDA per share, levered free cash flow per share and overall enterprise value. Although a smaller transaction relative to our past acquisitions, we continue to take a disciplined approach to M&A activity in an effort to drive increased shareholder value."
[SM]
Create E-mail AlertRelated Categories
Corporate NewsStocks Mentioned
-0.22Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
