Waller Capital Advises Sigecom on its Sale to WideOpenWest

Evansville, IN

WideOpenWest, LLC announced today that it has reached an agreement to acquire SIGECOM, LLC, a provider of bundled communications services reaching over 75,000 residences and 5,500 businesses in the greater Evansville and Newburgh, Indiana markets. WideOpenWest is a provider of cable, digital cable, high-speed Internet and digital telephone services under the brand name “WOW!” in 114 municipalities reaching over 1.4 million households in Illinois, Indiana, Michigan and Ohio.

WideOpenWest enters into this agreement 100 days after being acquired by Avista Capital Partners. Avista Capital, based in New York, is a private equity firm focused on investment in the media, energy and healthcare sectors. SIGECOM is being acquired from Utilicom Networks, LLC, whose members include The Blackstone Group and Vectren Corporation.

SIGECOM has provided cable, telephone and high-speed Internet services to Evansville, Newburgh and Vanderburgh and Warrick counties since 1999, and the company has recently started expansion to Chandler, Boonville and Mt. Vernon.

Colleen Abdoulah, President and Chief Executive Officer of WideOpenWest, said, “The WOW! team is extremely excited with this growth opportunity. SIGECOM’s focus on delivering exceptional bundled value and the highest quality customer service is a strong strategic fit with WOW!’s operating philosophy. We are committed to continuing to serve customers in southern Indiana with an array of services which meets their needs, at a great value, backed by award winning customer service.”

Bruce Jones, President and Chief Executive Officer of SIGECOM, said, “We are extremely pleased to be joining the WOW! family. Our two companies share the same commitment to serving our customers and our employees with excellence. Being part of WOW! will bring SIGECOM greater resources with which to serve our communities, and provide SIGECOM with expanded opportunities for growth and development.”

David Burgstahler, a partner of Avista Capital Partners, said, “Just 100 days after acquiring WOW!, it has already proven to be the perfect strategic fit for Avista’s interests in the media sector. With its acquisition of SIGECOM, the WOW! management team has demonstrated what attracted us to the business in the first place: the capability to grow strategically while maintaining compelling customer offerings and greater customer service. We look forward to the invaluable contributions SIGECOM will be adding to this organization.”

Waller Capital initiated this transaction and served as financial advisor to SIGECOM.