Thursday, August 1, 2013

Private Equity Backed Group Buys Texas Cable Provider

Rural Broadband Investments, a group backed by private equity firm GTCR has acquire a cable company in the Texas market, the company announced today. According to RBI, it has closed an acquisition of McDonald Cable, its third purchase of a cable company so far. McDOnald Cable serves over 9,000 cusomters and 30,00 homes in Southeast Texas. Financial terms of the buy were not disclosed. Rural Broadband Investment says that so far, it has invested in NewWave Communications, and purchase Cable Management Associates, as part of an effort by GTCR to buy up cable assets in small and mid-sized markets. Rural Broadband Investments is based in Kansas. RBI said it was advised by Kirkland & Ellis LLP, PricewaterhouseCoopers, and RBC Capital Markets in the deal.