West Point, Georgia-based overbuilder Knology Inc. said Friday that
it has closed its acquisition of Sunflower Broadband for $165 million in
cash.
Knology announced it
would purchase Sunflower, which has about 105,000 revenue generating
units in Douglas, Eudora and Lawrence counties in Kansas, in August.
Knology has about 600,000 residential voice, video and data customers in
Florida, South Dakota, Georgia, South Carolina, Alabama and Tennessee.
In
connection with the deal, Knology said it has entered into a $770
million first lien credit facility which will be used to fund the
acquisition, refinance its existing credit facility and pay related
transaction costs. Knology said it used about $48 million of cash on
hand to partially fund the transaction.
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