Under the terms of the deal, Crestview will purchase units held by Avista Capital Partners and other unitholders, and make a $125m primary investment in newly-issued units. In conjunction with the investment, Jeffrey Marcus, a partner at Crestview, will join WOW!’s board as chairman. He will replace former WOW! CEO Colleen Abdoulah who will retire as Chair of the Board but will continue to serve as a director of the Board.
Led by Steven Cochran, Chief Executive Officer, WOW! offers services to both residential and commercial customers in communities in in Illinois, Michigan, Indiana, Ohio, Kansas, Maryland and the Southeast.
Its networks extend approximately 33,000 plant miles, pass approximately 3 million households, and serve approximately 782,000 customers.