Knology Closes Sunflower Deal

Author:
Publish date:
Updated on

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.
Credit Suisse and SunTrust Robinson Humphrey led the financing transaction associated with the refinance and acquisition. SunTrust Robinson Humphrey acted as M&A adviser to Knology and RBC Daniels acted as M&A adviser to Sunflower.

Related