Seller: TDS Telecoms (a subsidiary of Telephone and Data Systems, Inc. (NYSE: TDS)) (TDS) North Carolina Operations (TDS NC)
Buyer: Wilkes Communications, Inc., a subsidiary of Wilkes Telephone Membership Corporation (Wilkes”), a North Carolina cooperative corporation
Price: Not Disclosed
Description: TDS NC serves approximately 3,000 access lines through three operating companies: Barnardsville Telephone Company, Saluda Mountain Telephone Company, and Service Telephone Company
Valuation Metrics: Not disclosed
Closed: May, 2015
Comments: Wilkes was formed as a cooperative in 1951 and has grown to serve approximately 10,400 access lines. Wilkes offers triple-play services to its customers via a 1-Gig capable FTTP network that serves all current subscribers. The company serves subscribers in parts of seven NC counties. Wilkes is pursuing growth in areas outside of its traditional ILEC market areas, with the TDS NC acquisition furthering this growth strategy.
TDS operates telephone, fiber, and cable systems in 36 states. As of September 30, 2014, TDS served 580,000 voice, 360,000 broadband Internet, and 130,000 video customers. In addition, TDS owns 81% of U.S. Cellular, the nations fifth largest wireless carrier, and OneNeck IT Solutions a leading provider of managed IT solutions including cloud and hosting solutions.
Charlesmead Advisors, LLC served as exclusive financial advisor to TDS Telecommunications Corp. in this transaction