Local company to become subsidiary
Solarus has entered into an agreement to acquire Manawa Telephone Company, a 116-year-old locally owned telecommunications provider.
The transaction is anticipated to close in the second quarter of 2016 after regulatory approvals.
“This is a great fit that strengthens our core business and is a great strategic alliance for both companies,” said Douglas Wenzlaff, CEO of Solarus. “We are very excited about joining forces with Manawa and their employees.”
“We are very excited about future integrations so we can continue to better serve our existing business and residential customers,” said Tom Squires, CEO of Manawa Telephone. “I am confident this is the best fit for our customers and employees.”
Manawa will continue to operate under the Manawa Telephone name and will become a wholly owned subsidiary of Solarus.
“It will be business as usual,” Squires said. “I will be retiring and everybody else is being retained. The name will stay the same.”
Mazer Telecom Advisors LLC, Denver, Colorado, acted as financial advisor to Manawa Telephone Company.
Solarus is headquartered in Wisconsin Rapids and offers local and long distance telephone, Internet and television service throughout North Central Wisconsin.