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ABRY, Oak Hill to sell Atlantic Broadband to Cogeco for $1.36bn

6 Dec 2012

US-based private equity firms ABRY Partners and Oak Hill have agreed to sell all of the shares of US cable provider Atlantic Broadband to Cogeco, the Canadian media and communications business.

ABRY Partners IV and Oak Hill have entered into a definitive agreement to sell all of the company’s shares for $1.36bn, or 8.3-times Atlantic Broadband’s estimated 2013 EBITDA.

Credit Suisse handled the sale process.

Gleacher & Co Securities is acting as financial advisor for Cogeco Cables.

Bank of America Merrill Lynch is serving as sole lead arranger and providing the committed debt financing at Atlantic Broadband.

Atlantic Broadband, the fourteenth-largest cable operator in the US, received its first investment from ABRY Partners and Oak Hill in 2004.

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