M&A Deal Summary

SureWest Communications Acquires Everest Broadband

On December 6, 2007, SureWest Communications acquired communications company Everest Broadband from Seaport Capital for 173M USD

Acquisition Highlights
  • This is SureWest Communications’ 1st transaction in the Communications sector.
  • This is SureWest Communications’ largest (disclosed) transaction.
  • This is SureWest Communications’ 1st transaction in the United States.
  • This is SureWest Communications’ 1st transaction in Missouri.

M&A Deal Summary

Date 2007-12-06
Target Everest Broadband
Sector Communications
Buyer(s) SureWest Communications
Sellers(s) Seaport Capital
Deal Type Add-on Acquisition
Deal Value 173M USD

Target

Everest Broadband

Kansas City, Missouri, United States
Everest is a cable company that offers cable television, telephony and high-speed Internet services in suburban Kansas City.Everest services are presently available in Lenexa, Shawnee, Overland Park and the Brookside, Waldo and Red Bridge areas of South Kansas City. Everest Business Solutions also provides customized business solutions for the entire Kansas City metro area.

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Buyer(S) 1

Buyer

SureWest Communications

Roseville, California, United States

Category Company
Founded 1914
Sector Communications
Employees812
DESCRIPTION

SureWest Communications is a telecommunications company provides data services include high-speed Internet access in US.


DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Seaport Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

Seaport Capital is a private equity firm that targets equity and mezzanine investments in private middle-market companies. Funds are generally used to support late-stage growth opportunities, as well as buyouts and recapitalizations. Seaport prefers businesses with high margins and recurring revenues. Sectors of interest include marketing services, publishing, media, communications, business services, education, software, cable, and information services. Seaport seeks private companies valued between $25 and $150 million and looks to commit up to $40 million of equity per transaction. Seaport requires board representation and typically holds investments for three to seven years. Seaport Capital was formed in 1997 and is based in New York City.


DEAL STATS #
Overall 11 of 31
Sector (Communications) 6 of 8
Type (Add-on Acquisition) 7 of 19
State (Missouri) 2 of 2
Country (United States) 11 of 29
Year (2007) 4 of 4
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-15 Reserve Holdings

Louisiana, United States

Reserve Holdings, Inc. offers local and long distance telephone service, cable television and high speed Internet access throughout St. John Parish through a modern HFC network.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-26 VIRGO Publishing

Phoenix, Arizona, United States

VIRGO Publishing LLC is an integrated business to business information services company delivering trade shows and conferences, print and electronic media, education and training, and value-added business services.

Sell -