Privately held Schurz Communications, Inc. will purchase locally-owned The New Knoxville Telephone Company (NKTelco), an Ohio-based fiber provider for an undisclosed sum, under an agreement announced today. Schurz will also gain NKTelco’s 4.5% investment in Com Net, Inc. (CNI), an Ohio-based communications company.
Schurz is a privately held communications company that can trace its roots back over 100 years. The NKTelco acquisition is the sixth Schurz has made. Other Schurz properties include Antietam Broadband, Burlington Telecom, and Hiawatha Broadband, among others.
NK Telco offers data, voice and video services to businesses and consumers in West Central Ohio. Under terms of the agreement, NKTelco will continue to operate under its current name, with current management staying in place.
The tier 3 industry continues to see a considerable amount of M&A activity. That activity remained strong throughout the industry in 2020 despite the COVID-19 pandemic, and activity continues to be strong this year as large and small telecom firms alike look to strengthen their positions.
“Schurz remains dedicated to connecting communities through access to information and empowering engagement, and we are proud to bring NKTelco into our portfolio,” said Todd Schurz, Schurz president and chief executive officer, in a prepared statement. “We have deep experience with broadband businesses and look forward to supporting NKTelco’s growth and expansion in Ohio. The Company aligns with our ongoing mission of uniting people through communications services.”
“Schurz has a long history of supporting broadband companies and we are fortunate to be part of its family of businesses,” said Preston Meyer, NK Telco general manager, in a prepared statement. “With this support, NKTelco will be able to accelerate plans of expanding its regional fiber network. In addition, we plan to announce gigabit speeds and more cloud- based offerings while continuing to deliver our superior customer service. We appreciate the expanded opportunities that being part of the Schurz family brings for our employees. Ultimately our partnership supports our investment in our local communities and increases our ability to pursue growth and expansion opportunities.”
