Hargray Acquires ComSouth
It didn’t take the new owners of Hargray long to announce its first acquisition. Less than one year after being acquired by an investment group led by the Tom Pritzker Family, Hilton Head Island, SC-based Hargray Communications announced on March 15, 2018 an agreement to acquire Hawkinsville, GA-based ComSouth.
ComSouth provides voice, video and broadband services to residents and businesses in Central Georgia including the communities of Hawkinsville, Perry, Fort Valley, Cochran and nearby areas. ComSouth is an ILEC founded in 1913 that serves approximately 3,330 access lines. It has deployed fiber-to-the-premise in parts of its service area.
Prior to the sale, ComSouth was currently owned by the Mansfield Partnership. W. Mansfield Jennings III, Chairman of the Board for ComSouth added “My family has owned and operated ComSouth since it was founded by my great-grandfather in 1913. Speaking on behalf of the Jennings family and ComSouth employees, we have worked very hard to establish a legacy as a forward-looking organization dedicated to providing the latest technology to the communities we serve. As we look toward the future of communications and entertainment services, it is our belief that Hargray’s larger scale and unique combination of technological expertise and community focus makes them the best possible choice to provide advanced telecommunications services to our communities while maintaining the personal touch that our customers value.”
Hargray brings greater access to capital than ComSouth currently has. David Armistead, SVP of Hargray Communications, said “we intend to invest heavily in ComSouth’s network to deliver the same high- quality suite of residential and commercial services and customer support that we are known for in South Carolina and Georgia.”
While Hargray’s operations are based out of South Carolina, this isn’t the first time it has expanded into Georgia. Back in 2015, Hargray acquired Plantation Cablevision serving the resort communities around Lake Oconee, Georgia. It also has operations in Chatham County, GA and recently expanded into Macon and Warner Robbins, Georgia.
In 2016, ComSouth elected to participate in the FCC’s Alternative Connect America Cost Model (ACAM) to further improve broadband speeds on its network. Hargray is a legacy, cost-based support company.
The transaction closed on May 16, 2018. Financial terms were not disclosed.