Friday, December 7, 2007

SureWest Acquires Everest Broadband

Roseville-based telecommunications firm SureWest Communications said today that it has entered into a definitive agreement to acquire Everest Broadband, a provider of telecommunications services in Kansas City. SureWest will pay $173M in cash for Everest Broadband, which is owned by Seaport Capital. The deal is expected to close by the first quarter of 2008. SureWest is financing the deal with cash plus debt financing from CoBank, ACB. SureWest was advised by UBS Investment Bank and Orrick, Herrington & Sutcliffe LLP; Everest was advised by Waller Capital Partners and O'Melveny & Myers LLP.