Novacap closes $220 mln-plus acquisition of Horizon Telcom

The technology group of Canadian private equity firm Novacap has closed its buy of Horizon Telcom Inc, a Chillicothe, Ohio-based provider of fibre-optic bandwidth infrastructure services. The deal, announced in January, is valued at more than US$220 million, an amount that was not previously disclosed. Founded in 1895 as the Home Telephone Co, Horizon has grown its fibre network to over 4,300 route miles and nearly 550,000 fibre miles. President and CEO Bill McKell said the partnership with Novacap will help the company become the "premier provider of broadband services throughout Ohio and surrounding states."

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