M&A Deal Summary

AT&T Acquires Centennial Communications

On November 7, 2008, AT&T acquired communications company Centennial Communications from Welsh Carson Anderson & Stowe, The Blackstone Group and Advent Morro Equity Partners for 944M USD

Acquisition Highlights
  • This is AT&T’s 13th transaction in the Communications sector.
  • This is AT&T’s 11th largest (disclosed) transaction.
  • This is AT&T’s 18th transaction in the United States.
  • This is AT&T’s 2nd transaction in New Jersey.

M&A Deal Summary
Date 2008-11-07
Target Centennial Communications
Sector Communications
Buyer(s) AT&T
Sellers(s) Welsh Carson Anderson & Stowe
The Blackstone Group
Advent Morro Equity Partners
Deal Type Add-on Acquisition
Deal Value 944M USD
Advisor(s) Barclays Investment Bank
Evercore Group (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Centennial Communications

Wall, New Jersey, United States
Centennial Communications Corp. was an independent cellular telephone operator in the U.S. and an operator of both wireless and wireline systems in the Caribbean. Centennial Communications was formed in 1988 and was based in Wall, New Jersey.

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Buyer(S) 1

Buyer

AT&T

Dallas, Texas, United States
Category Company
Founded 1983
Sector Communications
Employees148,290
Revenue 122.4B USD (2023)
DESCRIPTION
AT&T's corporate headquarters in downtown Dallas, Texas.
AT&T's corporate headquarters in downtown Dallas, Texas.

AT&T is a provider of telecommunications services in the United States and the world. AT&T offers services and products to consumers in the US and services and products to businesses and other providers of telecommunications services worldwide. AT&T's services and products include wireless communications, local exchange services, long-distance services, data/broadband and Internet services, video services, telecommunications equipment, managed networking, and wholesale services. AT&T was founded in 1983 and is headquartered in Dallas, Texas.

DEAL STATS #
Overall 19 of 37
Sector (Communications) 13 of 19
Type (Add-on Acquisition) 17 of 30
State (New Jersey) 2 of 2
Country (United States) 18 of 32
Year (2008) 3 of 4
Size (of disclosed) 11 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-18 Edge Wireless

Bend, Oregon, United States

Edge Wireless LLC, is a provider of wireless communications services in Oregon, northern California, Idaho and Wyoming.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-12 Wayport

Irving, Texas, United States

Wayport, Inc., is a Wi-Fi broadband internet access provider. The Company provides hotspots in approximately 28,000 locations throughout the United States. Venues include hotels, airports, sports venues, retail chain stores, McDonald's restaurants and Starbucks locations.

Buy $275M

Seller(S) 3

SELLER

Welsh Carson Anderson & Stowe

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1979
PE ASSETS 31.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Welsh Carson Anderson & Stowe (WCAS) is a mega-sized, specialist private equity firm focused on investments in growth-oriented companies operating within the healthcare and technology/tech-enabled services industries. WCAS will consider small and large transactions; including venture investments, growth equity investments, buy-and-build transactions, public-to-private acquisitions, and corporate carve-outs. The Firm prefers control situations and generally seeks opportunities in the US. Welsh Carson Anderson & Stowe was formed in 1979 and is based in New York City.

DEAL STATS #
Overall 23 of 75
Sector (Communications) 1 of 2
Type (Add-on Acquisition) 14 of 44
State (New Jersey) 1 of 2
Country (United States) 22 of 72
Year (2008) 4 of 4
Size (of disclosed) 10 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-31 AmCOMP

North Palm Beach, Florida, United States

AmCOMP Incorporated is a provider of workers’ compensation insurance.

Sell $224M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-24 GeoDigm

Falcon Heights, Minnesota, United States

GeoDigm Corp. is a provider of dental and orthodontic imaging and manufacturing technology. GeoDigm deploys its proprietary, digitally-enabled production system exclusively through GeoDigm Laboratories, delivering improved products and services to its client base of over five thousand dentists and orthodontists.

Buy -
SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 42 of 174
Sector (Communications) 10 of 15
Type (Add-on Acquisition) 17 of 67
State (New Jersey) 2 of 6
Country (United States) 28 of 105
Year (2008) 2 of 2
Size (of disclosed) 41 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-28 Apria

Indianapolis, Indiana, United States

Apria is a provider of integrated home healthcare equipment and related services in the United States. The company offers a comprehensive range of products and services for in-home care and delivery across three core service lines: home respiratory therapy (including home oxygen and non-invasive ventilation (“NIV”) services), obstructive sleep apnea (“OSA”) treatment (including continuous positive airway pressure (“CPAP”) and bi-level positive airway pressure devices, and patient support services), and negative pressure wound therapy (“NPWT”). Additionally, it supplies a wide range of home medical equipment and other products and services to help improve the quality of life for patients with home care needs. Apria was formed in 1924 and is based in Lake Forest, California.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 CMS Info Systems

Mumbai, India

CMS Info Systems provides IT & outsourced business services across India. The company offers a wide bouquet of services across the value chain, focusing on retail banks, insurance, telecom, retail, PSU and Government segments. CMS Info Systems was founded in 2008 and is based in Mumbai, India.

Buy $40M
SELLER

Advent Morro Equity Partners

San Juan, Puerto Rico

Investor Investor

Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

Advent Morro Equity Partners is a private equity firm focused on opportunities connected to Puerto Rico. The FIrm invests in companies operating in Puerto Rico, Puerto Rican companies expanding into the US, and established US-based companies whose products or services target the US hispanic market. Advent Morro’s seeks to team with management teams looking for capital to accelerate growth organically or through acquisitions. The Firm looks to invest $5 to $10 million in companies with annual revenues between $5 and $20 million. Sectors of interest include healthcare, hospitality, telecommunications, software-development, distribution, education and medical insurance. The Firm will consider a variety of investment situations, including MBOs, corporate divestitures, turnarounds, recapitalization of family owned businesses, and industry consolidation. Advent Morro Equity Partners was formed 1989 and is based in San Juan.

DEAL STATS #
Overall 2 of 6
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (New Jersey) 2 of 2
Country (United States) 2 of 4
Year (2008) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-10 Quench USA

King of Prussia, Pennsylvania, United States

Quench USA is a water technology company that provides businesses with high-quality filtered water and other products enabled through its production, such as ice, coffee and tea. Quench systems are rented to its customers, and purify tap water using state-of-the-art technology, eliminating the need for environmentally-wasteful and expensive water delivery. Quench USA was formed in 1997 and is based in King of Prussia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-17 InfoPáginas

Guaynabo, Puerto Rico

Infopáginas is a growing Internet local search platform covering Puerto Rico. The company provides detailed and accurate results focusing on relevant local listings. Infopáginas currently provides many Internet and mobile search solutions while expanding into future technologies. InfoPáginas was founded in 2009 and is based in Guaynabo, Puerto Rico.

Buy -
Mergr

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