CLEC Birch Communications is making its seventh acquisition in three years.
The Florida-headquartered company said today it is buying almost all of Cleartel Communications Inc.’s customers and network assets. The deal includes around 100,000 business and residential access lines, as well as facilities in Florida. Birch mostly serves SMBs.
Adding the Cleartel assets will “strengthen and expand our business, as well as our IP-based voice and data network,” Vincent Oddo, president and CEO of Birch, said in a prepared statement.
Terms of the transaction were not disclosed; both companies are privately held. Birch said the acquisition should close in the third quarter of this year. The CLEC first must secure approvals from the FCC and 22 states, in addition to meeting other regulatory conditions.
Redwood Capital Group acted as exclusive financial advisor to Birch in connection with the transaction. Cleartel is owned by commercial financier MCG Capital Corp.
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February 15 2019 @ 14:45:26 UTC