Canada’s Cogeco Cable has closed the US$1.36bn acquisition of Atlantic Broadband from private equity firm ABRY Partners.
The deal, agreed in mid July, marks the Quebecois cableco’s first venture into the US market.
Cogeco previously stated that the…
Canada’s Cogeco Cable has closed the US$1.36bn acquisition of Atlantic Broadband from private equity firm ABRY Partners.
The deal, agreed in mid July, marks the Quebecois cableco’s first venture into the US market.
Cogeco previously stated that the transaction would be financed through a combination of cash-on-hand, a draw-down on its existing revolver of US$550m and US$660m of borrowings under committed non-recourse debt financing at Atlantic.
Gleacher & Co acted as exclusive financial adviser, while Bank of America Merrill Lynch served as sole lead arranger and provider of the committed debt financing to Atlantic.
Ed Holleran, co-founder of Atlantic, will remain as CEO and president.
Atlantic is the US’s twelve largest cableco and operates down America’s East coast. It offers television, internet and telephony services.
