Poka Lambro agreed to purchase certain west texas assets and operations from Vexus

FOR IMMEDIATE RELEASE

Contacts: Tammy Pounds, 806-924-7234 (Poka Lambro)

J. Keith Davidson, 573-481-2263 (Vexus Fiber)

 

Poka Lambro Telephone Cooperative to Purchase Vexus Fiber Assets and Operations in Five West Texas communities

Tahoka, Texas – August 10, 2021 — Poka Lambro Telecommunications, Ltd. (“Poka Lambro”) has entered into a definitive agreement with NTS Communications, LLC dba Vexus Fiber (“Vexus”) of Lubbock, Texas to purchase the Vexus assets and operations in the West Texas communities of: Brownfield, Lamesa, Ropesville, Wilson, and Meadow (“West Texas Markets”).

“Poka Lambro is uniquely positioned to provide exceptional service to customers in these West Texas Markets,” said Patrick Sherrill, General Manager and Chief Executive Officer of Poka Lambro. “The addition of these five communities is a natural fit to our existing service territory and we pledge to serve these new customers with the same cutting-edge technology and great customer service for which Poka Lambro is known.”

“We are delighted to have reached an agreement to sell our networks in these communities to Poka Lambro,” said Jim Gleason, President of Vexus Fiber. “Vexus will continue to provide 100% broadband service in Lubbock, Amarillo and our many other communities in West Texas. This sale will allow us to expand our fiber network to even more homes and businesses.”

Terms associated with the transaction were not disclosed.  The closing of the West Texas Markets transaction is subject to routine regulatory approvals, which are expected to be completed in the second half of 2021.

Charlesmead Advisors, LLC, served as Exclusive Advisor to Poka Lambro on the transaction.

About Poka Lambro Telephone Cooperative

Established in 1950, Poka Lambro now serves an area spread across 4200 square miles in West Texas, primarily south of Lubbock and to the north of Midland, Texas. Poka Lambro serves the oil- rich Permian Basin and boasts one of Texas’ most prolific agribusiness regions with cotton and peanut farming, ranching and petroleum exploration and production. The company offers a wide variety of telecommunications-related services including high-speed Internet, local and long- distance services, security solutions, medical and emergency alert, and a portfolio of other messaging and calling services. For more information visit www.poka.com.

About Vexus Fiber

Vexus is a fiber optic telecommunications company providing high-speed fiber Internet, IP television and digital telephone services for residential and business customers in Texas and Southeastern Louisiana. We serve cities and communities including: Lubbock, Abilene, Amarillo, Wichita Falls, Texas and Hammond, Louisiana, among many others. Vexus is a portfolio company of Oak Hill Capital and Pamlico Capital. For more information visit www.vexusfiber.com.

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