BRECKENRIDGE, MO – May 18, 2020 – Green Hills Telephone Corporation d/b/a Green Hills Communications (Green Hills), a North Central Missouri telecommunications provider headquartered in Breckenridge, has entered into a definitive agreement to acquire Citizens Communications Corporation’s three wholly-owned operating subsidiaries — Citizens Telephone Company of Higginsville, Missouri, Citizens Cablevision, Inc., and Citizens Long Distance Company (collectively, Citizens).
Through this acquisition, Green Hills will obtain Citizens’ fiber, coaxial cable and copper network which spans over 700 miles and serves business and residential customers in 13 nearby communities. Upon completion of the transaction, the two companies will continue to conduct business as usual as Green Hills and Citizens in their respective communities. The Companies will maintain offices in Breckenridge, MO and Higginsville, MO, under the direction of the existing Green Hills management team led by General Manager, David Adams.
“Since 1908, Citizens has maintained a tradition of excellence in service to its residential and business customers. Throughout its history, Citizens has strived to always provide the latest technology while continually investing in its network and in its communities,” stated Brian Cornelius, Citizens President. “We recognize that same community-minded focus in Green Hills and have no doubt that the tradition of excellence will carry forward for years to come.”
“At Green Hills, we value strong connections and strive to serve our customers with integrity and compassion every day,” says David Adams, Green Hills General Manager. “We recognize those same values in the Citizens’ staff and in its service to its customers. By combining capabilities with Citizens, we can build upon our respective legacies and continue to provide advanced technology solutions across North Central Missouri.”
On a combined basis, Green Hills and Citizens will provide telecommunications solutions to business and residential customers in nine Missouri counties, offering a full suite of communications services including local and long distance phone service, TV programming, high-speed Internet, unified business communications, hosted business solutions, Ethernet connectivity and customized networking solutions.
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the third quarter of 2020. Financial terms of the transaction were not disclosed.
Stifel served as exclusive financial advisor to Green Hills and MVP Capital Advisors served as exclusive financial advisor to Citizens on the transaction. Green Hills has partnered with Rural Telephone Finance Cooperative (RTFC) to finance the purchase.
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About Green Hills Communications
Green Hills Communications, headquartered in Breckenridge, Missouri, is a local broadband telecommunications provider serving residential and business customers within Caldwell, Carroll, Daviess, Linn, Livingston, and Ray counties in northwest Missouri. Green Hills provides a full suite of communications services including high speed Internet, traditional phone lines, unified business communication, hosted business solutions, ethernet connectivity and customized networking solutions. For more information, please visit www.greenhills.net.
About Citizens Communications’ Operating Companies
Citizens Telephone, Cablevision, and Long Distance, headquartered in Higginsville, Missouri, provide Internet, Telephone and Cable TV service to residential and business customers within Lafayette, Pettis and Saline counties in central Missouri. With the local telephone company founded in 1908, Citizens remains dedicated to delivering the best communications services modern technologies provide and actively supporting the communities it serves. For more information, please visit www.ctcis.net.
Stifel is the preeminent middle-market investment bank. Stifel advises on mergers and acquisitions and raising public and private debt and equity through our corporate clients as well as through our dedicated financial sponsors effort. The combination of a full-service product offering and the deep industry expertise of our more than 600 bankers empowers us to provide comprehensive solutions for our clients’ evolving needs. For more information, please visit www.stifel.com.
About MVP Capital Advisors, LLC
MVP Capital Advisors provides merger and acquisition, private debt and equity capital raising, and strategic and valuation advisory services to the telecommunications, media, technology and renewable energy sectors. For more information, please visit www.mvpcapital.com.
RTFC has close to 500 members and is proud to have provided the rural telecommunications industry with billions of dollars in financing. RTFC is a member-owned, not-for-profit cooperative created solely to serve the financial needs of the rural telecommunications industry. For more information, please visit www.rtfc.coop
Media Contact for Green Hills:
Angela Shaffer, Sales & Marketing Manager