Columbus, OH – April 23, 2019 – Horizon, an Ohio-based regional fiber broadband company, has acquired a fiber network in the heart of downtown Indianapolis, Indiana, continuing Horizon’s strategic vision of becoming the leading Midwest fiber optic broadband provider. This agreement includes the ownership of over 1,000 fiber miles to Horizon’s already expansive network. Horizon will now be positioned to serve over 100 near-network business customers in the downtown Indianapolis metropolitan area.
“We are excited to be expanding our territory and look forward to introducing our extremely reliable fiber services to Indianapolis,” says Bill McKell, Horizon CEO. “This opportunity is the perfect next step and a great location for Horizon’s continued growth as the region’s premier broadband partner.”
This comes on the heels of the April announcement of the Columbus, Ohio market launch. The Indianapolis conduit and fiber purchase ties into Horizon’s current Indiana facilities and solidifies further growth in the region. Nearly 20 multi-tenant buildings and data centers will have immediate access to Horizon’s broadband network using existing conduit connections.
Ted Mocarski, Senior Partner at Novacap and Chairman of Horizon added "This acquisition is part of our strategy to bring high-quality connectivity to businesses across the mid-west and we could not be happier with the execution of the deal. The Company’s shareholder group enabled the financing to quickly close this opportunity.”
The acquisition is anticipated to close in 30 days subject to normal closing conditions.
Horizon is a leading fiber-based broadband carrier operating over 4,500 route miles in Ohio, Indiana, West Virginia, Pennsylvania, Kentucky, Michigan and New York. The extensive network offers high speed Point-to-Point, Point-to-Multipoint, dark fiber, wavelength and data center services. Horizon partners with carriers, government, healthcare, education, and enterprise businesses. Horizon’s entrepreneurial heritage and long-standing commitment to remarkable customer care, ensures its devotion to connecting its customers to their worlds through the delivery of cutting-edge fiber-based technology. For more information about Horizon’s brand promise, visit HorizonConnects.com
Founded in 1981, Novacap is a leading Canadian private equity firm with $2.6 billion of assets under management. The firm's unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. For more information, please visit www.novacap.ca