GONZALES, LA – Ascension-based EATEL today announced it has entered into a definitive agreement to acquire Vision Communications (Vision), a 66-year-old telecommunications company headquartered in Lafourche Parish, Louisiana. Vision has been owned by BV Investment Partners, a Boston based private equity firm, which acquired the Company in 2007. Vision provides cable TV, Internet, phone, home security, and alarm monitoring services to both residential and business customers from Raceland to Port Fourchon and Grand Isle, Louisiana. The acquisition of Vision will give EATEL an expanded service area throughout southeastern Louisiana that stretches from lower Livingston Parish to southern Jefferson Parish.
"From a business perspective, we are pleased to expand EATEL's winning formula of reliable service coupled with unequalled support and look forward to providing the most advanced high-bandwidth broadband services to Vision's customers, consistent with EATEL's well-established track record," said John Scanlan, EATEL President. "On a personal level, I'm excited to expand our services into an area that has always been important to me. Having spent many years in Fourchon from an early age, I know first-hand that the people are what make this area such a vital part of south Louisiana's culture."
'We look forward to serving the people in Lafourche and Jefferson parishes in the same manner we serve our existing customers," said Smokey Scanlan, EATEL's Chief Executive Officer. "Our customers know us as the hometown provider that has always offered affordable services backed by excellent customer service."
The transaction is subject to approval by the Federal Communications Commission (FCC) and the Louisiana Public Service Commission (LPSC) as well as other customary closing conditions and is expected to close in the fourth quarter of 2011.
Charlesmead Advisors, LLC served as exclusive financial advisor to EATEL in the transaction. Waller Capital Partners, LLC served as exclusive financial advisor to the owners of Vision in the transaction.
About VISION COMMUNICATIONS
Vision Communications provides phone, TV, Internet & security services to the Central & South Lafourche area, as well as Grand Isle.Founded in 1945, Vision is serving in its 68th year as the local service provider.