Update - Novacap TMT Enters into Definitive Agreement to Acquire Horizon Telcom
Novacap TMT ("Novacap"), one of Canada's leading private equity firms, announced on January 25, 2018 that it has entered into a definitive agreement to acquire Horizon Telcom ("Horizon"), a premier provider of fiber-optic bandwidth infrastructure services operating primarily in Ohio. Following the closing of the transaction, Novacap will continue to work with the existing management team and invest to grow the business throughout the region, while it continues to provide the highest quality of service to its customers.
"We are excited about the outstanding performance Horizon has delivered for its stakeholders resulting from the company's strategic vision to become Ohio's premier provider of fiber-based services, and we are looking forward to participating in the next phase of the company's growth," said Ted Mocarski, a Senior Partner at Novacap. Horizon began as a local telephone company over 120 years ago. Over the past decade, Horizon has transitioned itself into a leading regional provider of fiber-optic based services through significant investments in its state-of-the-art network and facilities.