M&A Deal Summary

Quadrangle Group Acquires NTELOS Holdings

On January 19, 2005, private equity firm Quadrangle Group acquired communications company NTELOS Holdings from Rapid Cable for 750M USD

Acquisition Highlights
  • This is Quadrangle Group’s 6th transaction in the Communications sector.
  • This is Quadrangle Group’s 6th largest (disclosed) transaction.
  • This is Quadrangle Group’s 14th transaction in the United States.
  • This is Quadrangle Group’s 1st transaction in Virginia.
Investment Fate
  • NTELOS Holdings went public in 2006.
  • NTELOS Holdings was sold to a strategic buyer in 2015 for 640M USD.

M&A Deal Summary
Date 2005-01-19
Target NTELOS Holdings
Sector Communications
Buyer(s) Quadrangle Group
Sellers(s) Rapid Cable
Deal Type Divestiture
Deal Value 750M USD
Advisor(s) DH Capital (Financial)

Target

NTELOS Holdings

Waynesboro, Virginia, United States
NTELOS Holdings Corp. is an integrated communications provider including wireless phone service, local and long distance telephone services, high capacity transport, data and voice services for Internet access and wide area networking and IPTV-based video services.

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Buyer(S) 1

Buyer

Quadrangle Group

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quadrangle Group is a specialist private equity firm focused on the information and communications technology services sectors. Quadrangle was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 15 of 25
Sector (Communications) 6 of 11
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 14 of 19
Year (2005) 1 of 3
Size (of disclosed) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-15 Protection One

Romeoville, Illinois, United States

Protection One is a security provider, protecting residential, business, national account and integrated system customers at millions of locations. Protection One provides installation, maintenance and electronic monitoring of alarm systems to single-family residential, commercial, multifamily and wholesale customers. Protection One was founded in 1988 and is based in Romeoville, Illinois.

Buy €90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-31 DHI Group

Centennial, Colorado, United States

DHI Group is a provider of specialized career websites for professional communities, including technology and engineering, financial services, energy, healthcare, and security clearance. DHI Group was incorporated in 1991 and is based in Centennial, Colorado.

Buy $200M

Seller(S) 1

SELLER

Rapid Cable

United States
Category Company
Sector Communications
DESCRIPTION

Rapid Communications is a platform company formed to acquire cable television systems in small to mid-size markets throughout the United States with the intent of upgrading the systems to offer advanced services. Rapid currently owns cable systems in several markets totalling approximately 100,000 subscribers. The Company was formed by Tom Semptimphelter, a cable entrepreneur, Alta Communications, Columbia Capital and Housatonic Partners.

DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-01 NTELOS Holdings

Waynesboro, Virginia, United States

NTELOS Holdings Corp. is an integrated communications provider including wireless phone service, local and long distance telephone services, high capacity transport, data and voice services for Internet access and wide area networking and IPTV-based video services.

Buy -
Mergr

Product

Company

Legal