EATEL & RTC Corporate Announcement - EATEL & RTC Corporate Announcement
Press Contact for RTC:
Marketing and Public Relations Manager
Press Contact for EATEL:
General Counsel and EVP of Human Resources
FOR IMMEDIATE RELEASE
Reserve Communications and Computer Corporation, also known as “RTC”, a wholly-owned subsidiary of RTC Holdings, L.L.C., one of Louisiana’s leading telecommunications companies, announced today 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 (100%) 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.
Established in 1935 in Reserve, Louisiana, RTC provides a full suite of telecommunications products and services to residential and business customers in portions of St. John the Baptist, St. James, and Lafourche Parishes in Louisiana. Its service offerings include telephone, cable television, high-speed internet, and security. For more information, please visit http://www.rtconline.com/.
Established in 1935 in Gonzales, Louisiana, EATEL was the first company in Louisiana to provide phone, high-speed internet and cable television services over a state-of-the-art, all-fiber communications network that offers a broad array of advanced digital services to both residential and business customers and currently operates the only Uptime Institute Certified Tier III data center in Louisiana. EATEL is the leading telecommunications service provider in several communities in Southeast Louisiana. To learn more about EATEL, visit www.eatel.com.