SIKESTON, MO and LUBBOCK, TX — Vast Broadband, a provider of high-speed broadband, video, and voice services to over 55,000 residential and business customers in South Dakota and Minnesota markets, today announced it has entered into a definitive agreement to acquire NTS Communications. NTS is a regional broadband fiber company offering high-speed data, video, and voice services to over 20,000 residential and business customers in Texas and Louisiana. Under the terms of the agreement, Vast will acquire the company from its current private equity owner, Tower Three Partners.
NTS operates a high-quality fiber network spanning over 2,700 owned route miles passing more than 60,000 homes and businesses in Texas markets of Lubbock, Amarillo, Abilene, Midland and Wichita Falls, and select markets in Louisiana. The senior management team at Vast, led by CEO Jim Gleason, CFO Keith Davidson, and COO Larry Eby will join forces with local management at NTS following the transaction. The Vast team has significant experience growing and optimizing broadband network companies, having built NewWave Communications, a rural broadband company that grew to serve 160,000 subscribers, and most recently operating Vast Broadband since 2014.
“We are delighted to form this new partnership with Vast’s exceptional management team and Pamlico, and we look forward to supporting the next chapter of growth for the company. Vast and NTS have built impressive broadband communications networks and cultivated strong customer relationships throughout their local markets,” said Adam Hahn, a Principal at Oak Hill. Oak Hill Partners, Scott Baker and Benjy Diesbach, will join Mr. Hahn on the Board following the transaction.
Thanks to BBC Wires (see source)