PE-Backed TruVista Communications Acquires PlantTel
by Ty Trumbull • Nov 8, 2021
This is technology M&A deal number 711 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
TruVista is a telecommunications solutions provider in South Carolina and Northern Georgia and a portfolio company of iCON Infrastructure Partners, an independent investment firm focused on investments in core infrastructure businesses across North America and Europe.
PlantTel provides high-speed data, video, voice and other communications services to the Tifton, Georgia area. The company’s network currently includes over 1,500 fiber route miles, as well as a hybrid-fiber coaxial cable and legacy copper network. PlantTel has been working to expand its fiber-to-the-premise (“FTTP”) network in rural markets, a strategy that will continue under TruVista’s ownership, according to the companies.
TruVista Acquires PlantTel: Community-Focused Telecommunications
Danny Sterling, president and CEO of PlantTel, commented:
“The sale of PlantTel to TruVista and iCON represents the logical next step in the transformation of PlantTel into a regional fiber-based broadband solutions provider. With TruVista’s resources, PlantTel will be well-positioned to continue to serve its existing markets while expanding the availability of its high-quality communications services to new communities. Our family has owned PlantTel for 126 years, and we are confident that TruVista and iCON will be the ideal stewards of PlantTel’s legacy of providing industry-leading communications services to the customers and communities of South Georgia.”
Brian Singleton, CEO of TruVista, commented:
“We are pleased to welcome the PlantTel team to the TruVista organization. PlantTel has a long history of providing high-quality and affordable services to customers in Southern Georgia, and their focus on local communities fits perfectly with the culture we have built throughout team TruVista. This combination is a great outcome for the customers, employees, and stakeholders as we expand high-speed fiber broadband networks throughout our markets.”
Rory Hunter, partner of iCON Infrastructure LLP, commented:
“The acquisition of PlantTel by TruVista represents a fantastic outcome for all stakeholders. We look forward to continuing to support TruVista and the PlantTel team as a leading community-focused telecommunications provider in the region.”
Charlesmead Advisors served as financial advisor to PlantTel on the transaction.
Headquartered in Chester, South Carolina, TruVista has operated for more than 125 years.
The company provides basic, standard, and digital cable but has been moving into the managed home security and business security markets. In 2012, the company began expanding into Georgia through a series of strategic acquisitions.