Cincinnati Bell - M&A Summary, Ownership, and Business Overview

CommunicationsCompany

Cincinnati Bell M&A Summary

Cincinnati Bell has acquired 7 companies of its own, including 2 in the last 5 years. A total of 4 acquisitions came from private equity firms. It has also divested 4 assets.

Cincinnati Bell’s largest acquisition to date was in 2018, when it acquired Hawaiian Telcom Holdco for $650M. It’s largest disclosed sale occurred in 2014, when it sold Cincinnati Bell - Wireless Spectrum Licenses to Verizon Communications for $210M. Cincinnati Bell has acquired in 4 different US states, and 2 countries. The Company’s most targeted sectors include communications (67%) and information technology (17%).

Cincinnati Bell Ownership

Who owns Cincinnati Bell?

Cincinnati Bell is owned by Ares Private Equity Group and Macquarie Infrastructure and Real Assets. It was acquired on March 13, 2020.

Is Cincinnati Bell PE-backed?

Yes. Cincinnati Bell is owned by private equity investors Ares Private Equity Group and Macquarie Infrastructure and Real Assets.

Was Cincinnati Bell formerly PE-backed?

Yes. Cincinnati Bell was formerly owned by 2 private investors.

Cincinnati Bell Business Overview

Where is Cincinnati Bell headquartered?

Cincinnati Bell is headquartered in Cincinnati, Ohio.

What is Cincinnati Bell’s revenue?

Cincinnati Bell disclosed revenue of 1,537M USD for 2019 and 1,378M USD for 2018.

How many employees does Cincinnati Bell have?

Cincinnati Bell has 4,300 employees.

What sector is Cincinnati Bell in?

Cincinnati Bell is a communications company.

When was Cincinnati Bell founded?

Cincinnati Bell was founded in 1873.

M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity6
    • M&A Sell Activity4
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 9
  • M&A Advisors 8

Cincinnati Bell, Inc.

221 East Fourth Street,
Cincinnati, Ohio 45202
United States,
(513) 397-9900
www.cincinnatibell.com

Cincinnati Bell, Inc. is a provider of integrated communications solutions, including local and long-distance voice, data, high-speed Internet and entertainment services. Cincinnati Bell serves customers in Greater Cincinnati and Dayton. Cincinnati Bell was founded in 1873 and is based in Cincinnati, Ohio.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 4 - - 1 1 - 6
vol $1.4B $1.4B
Sell (0.2/yr) # 3 - - - - 1 4
vol $210M $210M
  10

Most Recent M&A

Company Date Value Type
CBTS 2024-02-06 - Divestiture
Cincinnati, Ohio · www.cbts.com
Bridgewired - Broadband Infrastructure Assets 2023-06-09 - Divestiture
Waynesville, Ohio · www.altafiber.com
Agile Network Builders LLC 2022-05-02 - Divestiture
Canton, Ohio · www.agilenetworks.com
Hawaiian Telcom Holdco, Inc. 2018-07-02 650M USD Add-on Acquisition
Honolulu, Hawaii · www.hawaiiantel.com
OnX Enterprise Solutions Ltd. 2017-10-02 201M USD Add-on Acquisition
Thornhill, Ontario · www.onx.com
Cincinnati Bell, Inc. - Wireless Spectrum Licenses 2014-04-07 210M USD Divestiture
Cincinnati, Ohio
CyrusOne, Inc. 2013-01-18 - IPO
Dallas, Texas · www.cyrusone.com
Cincinnati Bell, Inc. - Protection(TM) Security Monitoring Business 2011-07-13 - Divestiture
Cincinnati, Ohio
CyrusOne, Inc. 2010-05-12 525M USD Add-on Acquisition
Dallas, Texas · www.cyrusone.com
eGIX, Inc. 2007-12-06 18M USD Add-on Acquisition
Carmel, Indiana · www.egix.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Cincinnati Bell Technology Solutions Inc.    - cNotify 2015-03-18 1
Cincinnati, Ohio · www.cbts.cincinnatibell.com , United States
Cincinnati Bell Technology Solutions Inc.    - Virtual Blocks, Inc. 2009-02-02 3
Cincinnati, Ohio · www.cbts.cincinnatibell.com Mississauga, Ontario · www.virtualblocks.com

M&A by Sector

Sector Buy # Value Sell # Value
Communications 4 (67%) 668M (48%) 1 (25%) 210M (100%)
Information Technology 1 (17%) 525M (38%) 2 (50%) -
Internet Software and Services 1 (17%) 201M (14%) - -
Safety/Security - - 1 (25%) -
Total 6 $1.4B 4 $210M

By Geo

State/Country Buy Value Sell Value
United States 5 1.2B 4 210M
  Ohio 2 - 3 210M
  Texas 1 525M 1 -
  Indiana 1 18M - -
  Hawaii 1 650M - -
Canada 1 201M - -
  Ontario 1 201M - -
Domestic 5 (83%) 1.2B (86%) 4 (100%) 210M (100%)
Cross-border 1 (17%) 201M (14%) - -
Total 6 $1.4B 4 $210M

Top M&A Advisors

Financial Deals
Moelis & Co.
1
Morgan Stanley
1
Signal Hill Capital Group LLC
1
Legal Deals
Cravath, Swaine & Moore
4
Morgan Lewis
1
Bingham McCutchen LLP
1

Deal Values

buy # Total
$100M to $1B 3 $1.4B
< $100M 1 $18M
TOTAL $1.4B
Largest Hawaiian Telcom Holdco, Inc.
$650M (2018-07-02)
sell # Total
$100M to $1B 1 $210M
TOTAL $210M
Largest Cincinnati Bell, Inc. - Wireless Spectrum Licenses
$210M (2014-04-07)

M&A Connections

Deals
Acquired from
Investor(s)
50%
3 (50%)
Strategic(s)
33%
2 (33%)
Divested to
Investor(s)
25%
1 (25%)
Strategic(s)
50%
2 (50%)

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