M&A Deal Summary

Charter Communications Acquires InterLink Communications Partners LLLP

On September 1, 1999, Charter Communications acquired media company InterLink Communications Partners LLLP from Willis Stein & Partners, Hampshire Equity Partners and Silver Oak Services Partners

Acquisition Highlights
  • This is Charter Communications’ 1st transaction in the Media sector.
  • This is Charter Communications’ 4th transaction in the United States.
  • This is Charter Communications’ 2nd transaction in Colorado.

M&A Deal Summary

Date 1999-09-01
Target InterLink Communications Partners LLLP
Sector Media
Buyer(s) Charter Communications
Sellers(s) Willis Stein & Partners
Hampshire Equity Partners
Silver Oak Services Partners
Deal Type Add-on Acquisition

Target

InterLink Communications Partners LLLP

Denver, Colorado, United States
InterLink was a cable television partnership operating systems in 15 states. Based in Denver, CO, the company focused on operating cable systems in ex-urban and rural communities, eventually serving approximately 535,000 customers. Willis Stein acquired InterLink in September 1998 and sold the company to Charter Communications in September 1999.

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Buyer(S) 1

Buyer

Charter Communications

Stamford, Connecticut, United States

Category Company
Founded 1993
Sector Communications
Employees101,100
Revenue 54.6B USD (2023)
DESCRIPTION
Charter Communications' corporate headquarters in Stamford, Connecticut.
Charter Communications' corporate headquarters in Stamford, Connecticut.

Charter Communications is a broadband communications company. Charter provides a full range of advanced broadband services, including advanced Charter Spectrum TV video entertainment programming, Charter Spectrum Internet® access, and Charter Spectrum Voice. Charter Communications was incorporated in 1993 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 4 of 12
Sector (Media) 1 of 4
Type (Add-on Acquisition) 4 of 7
State (Colorado) 2 of 3
Country (United States) 4 of 12
Year (1999) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-26 Fanch Communications

Denver, Colorado, United States

Fanch Communications, Inc. operated rural cable television systems in West Virginia, Pennsylvania and Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-22 Seren Innovations

Minneapolis, Minnesota, United States

Seren offers broadband communications services including cable TV, high-speed Internet and telephone to approximately 20,000 customers in St. Cloud and surrounding communities.

Buy -

Seller(S) 3

SELLER

Willis Stein & Partners

Northbrook, Illinois, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Willis Stein & Partners is a private equity firm focused on investing in growth-oriented, US-based, middle-market companies valued between $30 and $500 million. Prospective investment situations include buyouts, growth capital financings, corporate divestitures, industry consolidations, and generational changes in ownership. Sectors of interest include business services, consumer products and services, healthcare, manufacturing, media, and telecommunications. Willis Stein & Partners was formed in 1994 and is based in Northbrook, Illinois.


DEAL STATS #
Overall 21 of 47
Sector (Media) 3 of 5
Type (Add-on Acquisition) 3 of 6
State (Colorado) 1 of 2
Country (United States) 21 of 47
Year (1999) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-09-01 Advanced Quick Circuits

Melbourne, Florida, United States

AQC was headquartered in Melbourne, FL, and manufactured multi-layer printed circuit boards for the defense and communications industries. The company worked closely with its customers to develop, modify and produce its products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-03 Protocol Global Solutions

Sarasota, Florida, United States

Protocol Global Solutions, Inc. is a leading provider of electronic customer relationship management (CRM)services, providing a full suite of CRM services. Protocol enables its clients to identify, acquire and retain their customers, thereby increasing their revenue, customer base and market share. Protocol designs and implements comprehensive solutions that utilize the Internet and other communication channels to provide high value-added services that address all the eCRM needs of its clients.

Buy $205M
SELLER

Hampshire Equity Partners

Greenwich, Connecticut, United States

Category Private Equity Firm
Founded 1990
PE ASSETS 730M USD
Size Large
Type Sector Agnostic
DESCRIPTION

Hampshire Equity Partners invests in buyouts, recapitalizations, growth financings, consolidations, and corporate restructurings of established public and private companies. Hampshire Equity focuses on investing in companies with annual sales of $25 to $150 million and EBITDA of $3 to $15 million. Hampshire Equity's target investment size is $10 to $25 million. Industries of interest include basic manufacturing, media and telecommunications, specialty retailing, healthcare, business services, and consumer products. Hampshire Equity Partners was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 2 of 11
Sector (Media) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 11
Year (1999) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 Citi Trends

Savannah, Georgia, United States

Citi Trends is a value-priced retailer of urban apparel catering to the fashion-conscious African American family. The Company's 260+ store locations average 10,000 square feet in size and are located in 16 states in the South, Southeast, Midwest, and Mid-Atlantic regions. The Company's stores offer clothes for men, women and children as well as plus sizes and accessories. Citi Trends was incorporated in 1946 and is based in Savannah, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-06 Morningstar Foods

El Paso, Texas, United States

Dean Foods is one of the leading food and beverage companies in the United States and a European leader in branded soy foods and beverages. The Company's Fresh Dairy Direct-Morningstar segment is the largest U.S. processor and distributor of milk, creamer, and cultured dairy products. These offerings are marketed under more than 50 local and regional dairy brands, as well as through private labels.

Sell $1.5B
SELLER

Silver Oak Services Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Focused
DESCRIPTION

Silver Oak Services Partners, LLC is a private equity firm focused on service businesses, specifically business services, healthcare services, and consumer services. The Firm targets companies with revenues between $15 and $150 million and EBITDA of $4 to $25 million. The Firm's typical investment size is $10 to $50 million with the ability to invest more through co-investment from the firm's limited partners. The company will not consider investments in start-ups, businesses with project-based revenue models, retail, or restaurants. Silver Oak Services Partners was formed in 1995 and is based in Evanston, Illinois.


DEAL STATS #
Overall 2 of 24
Sector (Media) 1 of 1
Type (Add-on Acquisition) 2 of 10
State (Colorado) 1 of 2
Country (United States) 2 of 24
Year (1999) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 Education of America

Birmingham, Alabama, United States

Education Corporation of America, Inc. is an operator of post-secondary schools. Education Corporation of America is the holding company of Virginia College is a for-profit, nationally accredited post-secondary education provider to approximately 18,000 students. Virginia College has a presence in 25 markets and the Internet.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-06 Dynamic Healthcare Technologies

Lake Mary, Florida, United States

Dynamic Healthcare Technologies Inc. was a leading provider of mission critical health care information systems for clinical services departments and facilities. It developed, marketed, and supported a broad line of image-, voice-, and web-enabled information systems solutions for anatomic pathology, radiology, laboratory, surgery, and health information management.

Sell -