Schurz Communications, Inc has completed a cash-for-stock transaction to acquire the interests of Orbitel Communications, LLC in Maricopa, Arizona.
Orbitel Communications serves approximately 10,000 customers in the city of Maricopa, about 30 miles south of Phoenix. Orbitel’s system is a 100% 870 MHz, fiber-rich network delivering state-of-the-art services, including video, voice and internet products. Orbitel staff and management have extensive experience in the cable business and with the system, providing outstanding services to customers and the community.
Schurz Communications, Inc. is a diversified, privately-owned communications company based in the South Bend, Indiana area. It operates three other cable systems serving just under 90,000 subscribers (Coral Springs, Florida, Hagerstown, MD and Sun Lakes, AZ). Schurz also publishes eleven daily and eight weekly newspapers, and it operates ten television stations in seven markets and thirteen radio stations in three markets. Schurz also owns a phone directory business and a printing company. Geographically, the company has a presence in Alaska, Arizona, California, Florida, Georgia, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, Pennsylvania, South Dakota, and Virginia.
Schurz Communications CEO Todd Schurz said, “We are delighted to welcome Orbitel Communications into our family firm. Schurz entered Arizona in March 2012 with our acquisition of nearby Western Broadband in Sun Lakes. We are confident we will be able to build on Orbitel’s legacy of superior service to expand our services and the relationship with our customers.”
Prior to the acquisition by Schurz Communications, Orbitel was a portfolio company of MCG Capital Corporation. Bob Marcotte, a Managing Director at MCG, commented, “Orbitel has been a successful investment for us and I want to thank the Orbitel management team for their dedication and hard work over the past 5 years.”
RBC Capital Markets served as exclusive financial advisor to Orbitel Communications, LLC and MCG Capital for the transaction. Waller Capital Partners, LLC advised Schurz Communications in the transaction.