Schurz Communications said Thursday that it has acquired the equity interests in Western Broadband, a small triple play operator providing service to about 8.600 customers in Arizona.
Terms of the deal were not disclosed. Western Broadband offers service to planned communities in Sun Lakes, Robson Ranch, SaddleBrooke and SaddleBrooke Ranch in the state.
Privately held Schurz Communications is based in South Bend, Ind., and already owns two cable systems in Coral Springs, Fla. and Hagerstown, Md., with a combined 80,000 customers. The company also owns 11 weekly newspapers and operates 10 television stations in seven markets and 13 radio stations in three markets.
"We are delighted to welcome Western Broadband into our family firm," Schurz CEO Todd Schurz said in a statement. "Our company's acquisition strategy is to find well-run companies that provide high-quality products and outstanding customer service that complement our portfolio of cable, television, newspaper, radio and digital businesses. Western Broadband and its employees embody those values and goals."
Prior to the acquisition by Schurz Communications, Western Broadband was a portfolio company of Evergreen Pacific Partners, a private equity firm based in Seattle.
"Western Broadband is led by a very capable and dedicated group of employees; it has been a pleasure to be affiliated with the company and we are pleased to see it now be owned by a stable and successful company like Schurz Communications," said Tim Bernardez, co-founder of Evergreen Pacific Partners in a statement
Waller Capital Partners, LLC served as exclusive financial adviser to Western Broadband and Evergreen Pacific Partners for the transaction.
