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Wave Broadband and WOW! Acquire Broadstripe Cable Systems
Jan 24, 2012 (Close-Up Media via COMTEX) --
DH Capital, an investment banking firm serving the communications and Internet infrastructure sectors, announced that Broadstripe has completed the sale of its cable systems to Wave Broadband and WOW!.
According to a release, Broadstripe, which filed for Chapter 11 bankruptcy protection in January 2009, operated systems in Maryland, Michigan, Oregon, and Washington.
Broadstripe's Chief Restructuring Officer Reece Fulgham of El Molino Advisors (an affiliate of Conway MacKenzie, Inc.), said, "This transaction represents the successful culmination of a restructuring process that resulted in the best outcome for the company's stakeholders, employees, and customers. DH Capital's assistance from start to finish in this transaction has been invaluable."
Steve Weed, CEO of Wave Broadband, said, "With this acquisition, Wave continues a tradition of expansion in strategic West Coast markets. Wave's successful growth stems from our sincere commitment to providing superior products and exceptional service to our customers."
Steven Cochran, President and CFO of WOW!, said, "We are excited to welcome Broadstripe employees and customers into the WOW! family. This acquisition is a terrific investment that will further the growth of our business. We're eager to begin the process of transitioning and integrating the system to WOW!'s operating philosophy -- to deliver an employee and customer experience that lives up to our name."
DH Capital served as exclusive financial advisor to Broadstripe.
Wave Broadband is a cable, Internet and phone services company currently serving over 300,000 customers in Washington, Oregon and California.
WOW! is a provider of residential and commercial High-Speed Internet, cable television and telephone services.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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