Transaction Announcement March 2018
- Announced: February 27, 2018
- Buyers: Hargray Communications (“Hargray”)
- Target: ComSouth Corporation (“ComSouth”)
- Price: Not Disclosed
- Assets: ComSouth, a Georgia corporation, provides broadband, voice, and video services through its subsidiaries and affiliates in the cities of Hawkinsville, Perry, Fort Valley, Cochran, Unadilla, Pinehurst, Marshallville, Kathleen, Bonaire, and the counties of Peach and Macon in Georgia. ComSouth serves 3,339 ILEC access lines in those areas and is owned by Mansfield Jennings and the Jennings family.
- Valuation: Not Disclosed
- Expected Closing: Second Quarter of 2018
- Comments: Hargray, based in Hilton Head, South Carolina, provides communications services in South Carolina and Georgia, including an incumbent LEC’s serving over 38,000 residential and business customers. In addition, Hargray has developed competitive operations through a number of acquisitions including Plantation Cablevision, Charter Communications (Beaufort SC System), and iTech. Hargray has also invested heavily in fiber and now has a network the includes over 4,000 route miles of fiber and serves hundreds for FTTT sites in both states. In 2017, Hargray was acquired by an investment group led by the Tom Pritzker Family Business Interests. The Pritzker Family is invested across a wide range of industries, and notable interests include Hyatt Hotels, Triton Container, and the Marmon Group.