Wisconsin Rapids, Wis. –Solarus announced that it has entered into a definitive purchase 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 the receipt of regulatory approvals.
Douglas Wenzlaff, CEO of Solarus, stated, “This is a great fit that strengthens our core business and is a great strategic alliance for both companies. We are very excited about joining forces with Manawa and their employees.”
Tom Squires, CEO of Manawa Telephone, stated, “We are very excited about future integrations so we can continue to better serve our existing business and residential customers. 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.
Mazer Telecom Advisors LLC, Denver, CO acted as financial advisor to Manawa Telephone Company.