Novacap completes Horizon Telcom buy; eyes future expansion in U.S. Midwest

LONGUEUIL, QC - Canadian private equity firm Novacap has finalized it acquisition of Ohio-based telco Horizon Telcom for US$220 million.Horizon provides fibre-optic bandwidth infrastructure services operating primarily in Ohio, with a fibre network from 700 route miles to over 4,300 route miles and nearly 550,000 fibre miles with over 1,600 on-net locations and 16,600 near-net buildings. Novacap announced the proposed purchase in January.Novacap senior partner Ted Mocarski said Monday that the two entities share a “common vision of creating a multi-state fiber-optic provider in the Midwest.”"The acquisition of Horizon represents an ideal investment for Novacap to take advantage of the...