M&A Deal Summary

Cogeco Communications Acquires Atlantic Broadband Group

On July 18, 2012, Cogeco Communications acquired communications company Atlantic Broadband Group from Oak Hill Capital and ABRY Partners for 1.4B USD

Acquisition Highlights
  • This is Cogeco Communications’ 3rd transaction in the Communications sector.
  • This is Cogeco Communications’ largest (disclosed) transaction.
  • This is Cogeco Communications’ 1st transaction in the United States.
  • This is Cogeco Communications’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2012-07-18
Target Atlantic Broadband Group
Sector Communications
Buyer(s) Cogeco Communications
Sellers(s) Oak Hill Capital
ABRY Partners
Deal Type Add-on Acquisition
Deal Value 1.4B USD

Target

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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Buyer(S) 1

Buyer

Cogeco Communications

Montreal, Quebec, Canada
Category Company
Founded 1957
Sector Communications
Employees3,740
Revenue 3.0B CAD (2023)
DESCRIPTION

Cogeco Communications is a telecommunications corporation and is the second largest hybrid fibre coaxial cable system operator in Ontario and Québec. Cogeco Communications was incorporated in 1957 and is based in Montreal, Canada.

DEAL STATS #
Overall 5 of 7
Sector (Communications) 3 of 4
Type (Add-on Acquisition) 5 of 7
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-01 Novo

Lisboa, Portugal

Novo is an operator of a telecommunications corporation with more than 900,000 homes passed and around 200,000 subscribers. It offers pay-TV, internet, and fixed telephony services to consumers. Novo was founded in 1993 and is based in Lisboa, Portugal.

Sell €45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-21 Cogeco Peer 1

Toronto, Ontario, Canada

Cogeco Peer 1, Inc. is a provider of outsourced Internet infrastructure in the form of colocation and related managed services to enterprise customers in the US, and to a lesser extent, in Canada.

Buy CA$635M

Seller(S) 2

SELLER

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 STATS #
Overall 24 of 55
Sector (Communications) 3 of 6
Type (Add-on Acquisition) 11 of 23
State (Massachusetts) 1 of 2
Country (United States) 19 of 46
Year (2012) 3 of 5
Size (of disclosed) 6 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Wave Broadband

Kirkland, Washington, United States

Wave Broadband LLC is a provider of industry major high-speed internet, all-digital TV and phone services for residential, small/medium and Enterprise business customers. PC Magazine’s Readers’ Choice Award named RCN one of the winners for best ISPs in 2013, 2015 and 2016 – RCN was rated highest in overall satisfaction. RCN is YouTube HD Verified, earning the company the highest-ranking that Google offers. RCN is also a Netflix Open Connect partner, placing in the Top rankings on the Netflix USA ISP Speed Index in the markets RCN serves. RCN's affordably priced advanced digital services are delivered through its proprietary, state-of-the-art fiber-rich network and supported by 100% U.S.-based customer service. RCN's primary service areas include Boston, Chicago, Lehigh Valley (PA), New York City, Philadelphia (Delaware County) and Washington, DC.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-28 Southern Air

Florence, Kentucky, United States

Southern Air, Inc. is a global cargo carrier specializing in the provision of block space and aircraft, crew, maintenance, and insurance ("ACMI") services. Southern Air's blue-chip customer base includes some of the world's largest combination cargo carriers and government agencies.

Sell -
SELLER

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 STATS #
Overall 32 of 103
Sector (Communications) 6 of 15
Type (Add-on Acquisition) 17 of 53
State (Massachusetts) 5 of 6
Country (United States) 30 of 88
Year (2012) 3 of 4
Size (of disclosed) 8 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-17 CIBT

McLean, Virginia, United States

CIBT is a global provider of mobility services including visa, passport, and immigration documentation. CIBT serves multinational corporations, global travel management companies, tour and cruise operators, government agencies, and individual travelers. CIBT’s services simplify the time-consuming and complicated process of obtaining required travel documents and work authorizations, while providing an accurate and compliant service for corporate customers. CIBT was founded in 1989 and is based in McLean, Virginia.

Buy $215M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-17 Q9 Networks

Toronto, Ontario, Canada

Q9 Networks, Inc. is a provider of outsourced data center infrastructure for mission-critical IT operations. Operates three state-of-the-art data centers in Ontario and Alberta, Canada. Headquartered in Toronto, ON.

Sell CA$1.1B
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