“We look forward to continuing EATEL’s legacy of offering innovative services and outstanding customer service. Our combined operations will be well positioned for sustained growth in our highly competitive industry.”
Reserve Communications and Computer Corporation, also known as “RTC,” a wholly-owned subsidiary of RTC Holdings, L.L.C., announced on December 21 that it has entered into a definitive agreement to acquire EATELCORP, L.L.C. (together with its subsidiaries, “EATEL”), a premier provider of telecommunications, internet, video, security, and data center services in Louisiana.
Throughout its history, EATEL has strategically positioned itself as a leading regional provider of fiber-based and data center services through its state-of-the-art network and facilities.
William Ironside, the CEO at RTC said “EATEL has had impressive growth and expansion of its service area and portfolio of products over the years. We are excited about the future and are confident that EATEL will continue to thrive under RTC’s ownership.”
“We look forward to continuing EATEL’s legacy of offering innovative services and outstanding customer service. Our combined operations will be well positioned for sustained growth in our highly competitive industry,” said Josh Descant, President of EATEL.
Upon the closing of the transactions contemplated by the definitive agreement, RTC will acquire one hundred percent of the outstanding membership interests of EATELCORP, L.L.C. from its current owners through a merger transaction. EATELCORP, L.L.C. will be the surviving entity to the merger transaction and a wholly-owned subsidiary of RTC upon closing.
The transaction is expected to close in the first half of 2019, subject to the parties’ receipt of the required regulatory approvals and satisfaction of the other customary conditions to closing set forth in the definitive agreement.
Upon consummation of the closing, the senior management teams of RTC and EATEL will be consolidated and the combined RTC and EATEL operations will be headquartered in Gonzales, Louisiana. There are no plans to reduce staffing at any level in either organization and each entity will retain its local identity. Upon consummation of the closing, EATEL and RTC will work jointly to expand opportunities for customers and businesses in southeast Louisiana and the surrounding area.
Charlesmead Advisors, LLC served as exclusive financial advisor to EATEL in the transaction.
Contributed by EATEL