Knology, Inc. (KNOL) announced the closing of the acquisition of the assets of Private Cable Co., LLC for $7.5 million in cash. PCL Cable, a provider of video, voice and data services to residential and business customers in Athens and Decatur, Alabama, generates about $5 million in annualized revenue and $1.5 million in annualized EBITDA, before considering potential synergies.
Todd Holt, Knology's president and chief financial officer, said, "The PCL Cable business will operate as an extension of our existing Knology operation in Huntsville, Alabama. The transaction will be immediately accretive, before synergies, to EBITDA per share, levered free cash flow per share and overall enterprise value. Although a smaller transaction relative to our past acquisitions, we continue to take a disciplined approach to M&A activity in an effort to drive increased shareholder value."
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