BV Investment Partners said Friday it has completed the sale of Vision Communications, a Louisiana communications and broadband services provider, to EATEL, a triple-play service provider in the state.
BV has owned Vision, the incumbent local exchange carrier in Lafourche Parish, since late 2007 when it acquired the company from the Pat Brady family which had owned it since 1947. In September, the Boston-based private equity player said it has reached an agreement to sell Vision to EATEL. Terms of the deal were not disclosed.
BV, whose current investment holdings includes cable operator Harron Communications, expanded Vision's service offerings to include Ethernet Transport services, cell tower fiber backhaul, fiber connectivity to schools, libraries and other governmental agencies as well as alarm monitoring and security.
"This has been a successful investment for us and I want to thank Vision's management team for their dedication and hard work over the past several years," BV partner Louis Bertocci said in a statement. "They have been great operating partners."
Gonzales, La.-based EATEL provides phone, Internet and TV services to Louisiana residents in Ascension Parish and lower Livingston Parish. The acquisition will give EATEL an expanded service area throughout southeastern Louisiana that stretches from lower Livingston Parish to Southern Jefferson Parish.
Charlesmead Advisors, LLC served as exclusive financial advisor to EATEL in the transaction. Waller Capital Partners, LLC served as exclusive financial advisor to the owners of Vision in the transaction.
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