LUBBOCK, TX (KCBD) -The Missouri-based Vast Broadband announced it has entered a definitive agreement to acquire NTS Communications from its private equity owner, Tower Three Partners.
NTS, a regional broadband fiber company with services that include high-speed data, video and voice services, serves more than 20,000 residential and business customers in Texas and Louisiana, according to a Vast news release. In Lubbock, the business is located in the downtown Metro Tower.
After the deal closes, Oak Hill Capital Partners and Pamlico Capital will help in recapitalization plans to continue Vast’s company growth. Following the transaction Vast’s senior management will join forces with local management of NTS.
So far, a date for the transaction’s closure has not been set, according to the release.
“We are thrilled to acquire the attractive NTS fiber assets and support NTS’s talented local management team to better serve these customers and communities,” Jim Gleason, CEO of Vast, said in the release. “We are excited to launch our next stage of growth supported by long-term financial commitments from Oak Hill and Pamlico, and we look forward to investing in our network and service offerings across the combined footprint while continuing our focus on providing the highest quality service to our customers.”