Schurz snares deal for Ohio-based fiber provider NKTelco

Founded in 1905, The New Knoxville Telephone Company serves parts of West Central Ohio. Deal also includes NKTelco's 4.5% stake in Com Net.

August 4, 2021

1 Min Read

MISHAWAKA, Indiana and NEW KNOXVILLE, Ohio – Schurz Communications, Inc. (“Schurz”) announced today that it has entered into a definitive agreement to acquire Ohio-based fiber provider, The New Knoxville Telephone Company (“NKTelco” or the “Company”). Schurz is a privately held communications company formed in 1872 that owns several other regional broadband operations and has a variety of cloud, digital, and advertising holdings comprising its communications portfolio. The Company is the sixth broadband business to join the Schurz portfolio.

NKTelco is a locally-owned and operated fiber provider that has been in business since 1905. NKTelco currently offers data, voice and video services to residential and business customers in communities located throughout West Central Ohio. The Company's current management team will continue to lead the business, which will continue to be managed locally in New Knoxville, OH and the Company will operate under the NKTelco brand.

As part of the transaction, Schurz will become owners of NKTelco's 4.5% investment in Com Net, Inc. (“CNI”), an Ohio-based communications company, which will enable greater connectivity throughout the state.

Financial terms of the transaction were not disclosed. The transaction is subject to regulatory approval and is expected to close in Q4 2021.

Stifel served as financial advisor and FGKS Law served as legal advisor to NKTelco. Barnes & Thornburg served as legal advisor to Schurz.

Read the full announcement here.

Schurz Communications

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like