Buyout (LBO, MBO, MBI) • Communications

Oak Hill Capital and ABRY Partners Acquire Atlantic Broadband Group

On March 1, 2004, private equity firms Oak Hill Capital and ABRY Partners acquired communications company Atlantic Broadband Group

Acquisition Context
  • This is Oak Hill Capital’s 2nd and ABRY Partners’ 3rd transaction in the Communications sector.
  • This is Oak Hill Capital’s 13th and ABRY Partners’ 18th transaction in the United States.
  • This is Oak Hill Capital’s 2nd and ABRY Partners’ 3rd transaction in Massachusetts.
Investment Fate
  • Atlantic Broadband Group was sold to a publicly-traded strategic buyer in 2012 for 1.4B USD.

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M&A Deal Summary

Date March 1, 2004
Target Atlantic Broadband Group
Sector Communications
Buyer(s) Oak Hill Capital
ABRY Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Atlantic Broadband Group

Quincy, Massachusetts, United States
Atlantic Broadband is a cable operator which provides analog and digital video services as well as high-speed data services to subscribers in Miami Beach, Western Pennsylvania, Maryland, and Delaware.
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Buyers Overview 2

Buyer

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


Deal Context for Buyer #
Overall 14 of 80
Sector: Communications 2 of 16
Type: Buyout (LBO, MBO, MBI) 8 of 20
State: Massachusetts 2 of 4
Country: United States 13 of 73
Year: 2004 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-18 ExlService Holdings

New York, New York, United States

ExlService Holdings is a business process solutions company that looks deeper to drive business impact through integrated services and industry knowledge. EXL provides operations management, decision analytics and technology platforms to organizations in insurance, healthcare, banking and financial services, utilities, travel, and transportation and logistics, among others. ExlService Holdings was founded in 1999 and is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-06 eGain

Sunnyvale, California, United States

eGain is a provider of cloud-based customer engagement hub software and solutions. eGain was founded in 1997 and is based in Sunnyvale, California.

Buy -
Buyer

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


Deal Context for Buyer #
Overall 18 of 175
Sector: Communications 3 of 16
Type: Buyout (LBO, MBO, MBI) 14 of 43
State: Massachusetts 3 of 8
Country: United States 18 of 145
Year: 2004 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Dolan Media Holding Co.

Minneapolis, Minnesota, United States

Dolan Media Holding Co. is a provider of highly targeted, specialized business information products and services. It distributes law and business news online and also publishes daily and weekly business publications, including court and commercial newspapers and business journals, in 21 U.S. metro markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-03 Hispanic Yellow Pages Network

Oldsmar, Florida, United States

HYP Network is a leading independent provider of yellow page directories targeted to Hispanic communities throughout the United States.

Buy -