|[February 26, 2013]
M/C Partners and Columbia Capital to Sell Baja Broadband to TDS Telecom
BOSTON & ALEXANDRIA, Va. --(Business Wire)--
M/C Partners and Columbia Capital announced today that they have agreed
to sell the assets of Baja Broadband, LLC ("Baja") to Telephone and Data
Systems, Inc. (NYSE: TDS), parent company to TDS Telecommunications
Corp. ("TDS Telecom").
Baja Broadband, which is owned and controlled by M/C Partners and
Columbia, is a full-service communications company providing video,
high-speed broadband and voice services to residential and commercial
customers in Colorado, New Mexico, Texas and Utah.
"Baja has been a successful investment for us, and we have enjoyed a
terrific working relationship with the management team," said Gillis
Cashman of M/C Partners. "We are pleased with this transaction and
believe that TDS Telecom is the ideal owner of Baja going forward."
"M/C Partners and Columbia Capital have both contributed enormously to
developing Baja Broadband into a leading communications operator, and we
thank them for their support," said Peter Kahelin, CEO, Baja Broadband.
"I am confident that TDS Telecom's focus on quality, integrity and
outstanding service will enhance our already strong relationships with
our customers, our employees and our communities."
RBC Capital Markets served as an advisor to M/C Partners and Columbia
Capital and as the exclusive M&A advisor to Baja Broadband. Waller
Capital Partners also served as an advisor to M/C Partners and Columbia
Capital on the transaction. Edwards Wildman Palmer LLP served as legal
counsel to Baja.
About M/C Partners
M/C Partners is a private equity firm focused exclusively on the
communications, media, and information technology sectors. The firm has
invested over $1.5 billion into over 100 companies in those sectors.
Companies M/C has backed include Brooks Fiber Properties, Cavalier
Telephone, Corelink, Fusepoint, Attenda, ICG Communications, Legendary
Pictures, PlumChoice, Lightower, MetroPCS, NuVox (News - Alert), AccentHealth and Zayo
Group. The firm has strong institutional backing from the nation's
leading pension funds and endowments aswell as a long track record of
success. M/C Partners has offices in Boston, San Francisco and London.
For more information, visit www.mcpartners.com.
About Columbia Capital
Columbia Capital is a premier investment firm in wireless, broadband,
media, and enterprise information technology companies. Since its
formation in 1989, the firm has invested in over 130 global companies
through five investment funds with aggregate capital commitments of $2.5
billion. Columbia has a strong history of forming close partnerships
with its entrepreneurs and a reputation for a disciplined and patient
approach to building great companies and achieving superior investment
returns. The firm's sector focus allows it to consistently identify
disruptive emerging companies and to recognize and build value
throughout a company's lifecycle - from seed stakes of $1 million to
late stage capital infusions of $50 million or more. For more
information, visit www.colcap.com.
About Baja Broadband
Baja Broadband is a full-service communications company offering
best-in-class residential and commercial video, high-speed internet, and
voice services. Baja is committed to being the leading provider of
entertainment, information, and communication services in the
communities it serves. Baja owns and operates broadband networks in
communities within Colorado, New Mexico, Texas and Utah. Visit
bajabroadband.com for more information. Baja is currently managed by
Last Mile (News - Alert) Communications, an international management partnering and
telecommunications consulting firm. Visit lastmile.net for more
About Telephone and Data Systems
Telephone and Data Systems, Inc. (TDS), a Fortune 500® company, provides
wireless; broadband, TV and voice; and hosted and managed services to
approximately 7 million customers in 36 states through its business
units, U.S. Cellular (News - Alert), TDS Telecom and TDS Hosted & Managed Services.
Founded in 1969 and headquartered in Chicago, TDS employed 12,300 people
as of Dec. 31, 2012. Visit teldta.com
for comprehensive financial information, including earnings releases,
quarterly and annual filings, shareholder information and more.
About TDS Telecommunications Corp.
TDS Telecommunications Corp. is the seventh largest local exchange
telephone company in the U.S. Headquartered in Madison, Wis., it is a
wholly owned subsidiary of Telephone and Data Systems, Inc. For 44
years, the company has been connecting people with high-speed Internet,
phone, and TV entertainment services in over a hundred rural, suburban,
and metropolitan communities across 32 states. Today, TDS has nearly 1
million customer connections in service and 2,900 employees. Business
customers select from the latest technologies, including: VoIP (managed
IP Hosted) phone service, dedicated high-speed Internet and
hosted-managed services. Visit tdstelecom.com
for more information.
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