BV Investment Partners To Sell Vision Communications To EATEL
BOSTON, September 20, 2011 – BV Investment Partners (“BV”), today announced the signing of a definitive agreement to sell Vision Communications (“Vision” or the “Company”), a Louisiana based communications and broadband services provider, to EATEL.
Vision provides a comprehensive suite of residential and commercial communications services, including digital video, high-speed Internet, local and long distance telephone, alarm monitoring, and commercial data services. BV acquired the Company in late 2007 from the Pat Brady family, which had previously owned the business since its founding in 1945. Under BV’s ownership, the Company expanded it service offerings to include Ethernet Transport services, cell tower fiber backhaul, fiber connectivity to schools, libraries and other governmental agencies as well as alarm monitoring & security.
Louis V. Bertocci, a Partner at BV, commented, “This has been a successful investment for us and we have been very pleased with the operating performance of Vision. On behalf of BV, I want to thank Vision’s management team for their dedication and hard work over the past several years. They have been great operating partners.”
Tony Duet, Chief Executive Officer of Vision, said, “Working with the professionals at BV, who have deep experience in the communications sector, proved very valuable in improving our operations. Our partnership with them has been enormously beneficial in terms of the daily operation of our company as well as planning long-range initiatives. Furthermore, we expect our customers to benefit from this transaction and the exciting opportunity it brings.”
The transaction is subject to normal regulatory approvals and is expected to close in the fourth quarter.
About EATEL
Based in Gonzales, Louisiana, EATEL provides phone, Internet and TV services to Ascension Parish and lower Livingston Parish residents over an all-fiber communications network that offers a broad array of digital programming, including 70 high-definition channels and hundreds of on-demand titles. Founded in 1935, EATEL recently celebrated its 75th anniversary as a service provider and leader in Ascension Parish. To learn about EATEL, visit their website.
About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $2.6 billion in over 70 companies, actively targeting investments in the information and business services, communications and media industries. For more information, please visit the BVIP website.