Mishawaka-based Schurz Communications Inc has entered into a definitive agreement to acquire Ohio-based fiber provider The New Knoxville Telephone Co. Schurz says the company is the sixth broadband business to join its portfolio.
“Schurz remains dedicated to connecting communities through access to information and empowering engagement, and we are proud to bring NKTelco into our portfolio,” said Todd Schurz, president at Schurz. “We have deep experience with broadband businesses and look forward to supporting NKTelco’s growth and expansion in Ohio. The Company aligns with our ongoing mission of uniting people through communications services.”
NKTelco currently offers data, voice and video services to residential and business customers in communities located throughout West Central Ohio. Schurz says the company’s current management team will continue to lead the business, which will be managed in Ohio.
The company will continue to operate under the NKTelco brand.
“Schurz has a long history of supporting broadband companies and we are fortunate to be part of its family of businesses,” said Preston Meyer, general manager of NKTelco. ”With this support, NKTelco will be able to accelerate plans of expanding its regional fiber network. In addition, we plan to announce Gigabit speeds and more cloud based offerings while continuing to deliver our superior customer service. We appreciate the expanded opportunities that being part of the Schurz family brings for our employees. Ultimately our partnership supports our investment in our local communities and increases our ability to pursue growth and expansion opportunities.”
Financial terms of the transaction were not disclosed. The deal is expected to close in the fourth quarter of this year.