Milbank LLP advised TruVista Telecommunications (“TruVista”), a leading telecommunications solutions provider in South Carolina and Northern Georgia, which is a portfolio company of iCON Infrastructure Partners IV, LP (“iCON”), in a definitive agreement to acquire Plant Telephone Company (“PTC”) and Plant Telecommunications Sales & Services, Inc. (“PTS”) (together “PlantTel”), a leading telecommunications solutions provider in Southern Georgia. Closing of the transaction is subject to regulatory approvals.
PlantTel provides high-speed data, video, voice, and other communications services to customers in its incumbent services territories as well as competitive market areas beyond the boundaries of its local exchanges. PlantTel’s network currently includes over 1,500 fiber route miles, in addition to hybrid-fiber coaxial cable and legacy copper network. PlantTel is nearing completion of a significant expansion of its fiber-to-the-premise network in rural markets.
Under TruVista’s ownership, PlantTel will continue its strategy to provide best-in-market telecommunications solutions and leading customer service, while continuing to expand in Southern Georgia.
The Milbank deal team was led by Global Corporate partners John Franchini and Aaron Stine, along with associates Evelyn Liristis and Manuel Dominguez. The team also included Transportation and Space partner Patrick Campbell.
Mr. Franchini said, “We are pleased to have had the opportunity to support TruVista and iCON Infrastructure on TruVista’s agreement to acquire PlantTel. The decision of the sellers to sell PlantTel to TruVista is a sign of the strength of TruVista’s business and management team and iCON’s commitment to the business.”
Mr. Stine added, “We are excited about the combination of these two strong telecommunications providers.”
