FOR IMMEDIATE RELEASE
NortheastTel to Acquire CP-TEL
Natchitoches, LA / Collinston, LA / Elkhart, KS, October 13, 2023 – NortheastTel, a leader in rural broadband in Northeast Louisiana, announced today that it has signed a definitive agreement to acquire CP-TEL Holdings, Inc. of Natchitoches, LA, a leading broadband provider in Northwest Louisiana.
Mike George, President and CEO of NortheastTel said, “The acquisition of CP-TEL is a significant event for NortheastTel. CP-TEL’s leadership has built a strong company, focusing on enhancing broadband and other advanced telecommunications services throughout Northwestern Louisiana. Together with our management team, we are confident that we can continue to further these objectives.”
Becky Scott, President of Epic Touch Co. (parent company of CP-TEL), stated, “We are excited that CP-TEL is being acquired by another rural telecommunications company with a long history of doing business in Louisiana. Like Epic Touch, NortheastTel is a family-owned company that embodies the same commitment to taking care of its employees, customers, and the communities where we live and work.”
Under the agreement, NortheastTel will retain existing CP-TEL management, including Tom Edens, General Manager. Northeast is committed to continuing to grow CP-TEL and does not foresee changes in employee count following the acquisition.
The acquisition will be a stock transaction in which NortheastTel will acquire 100% of CP-TEL’s shares. The parties expect the transaction to be completed during 1Q 2024 subject to regulatory approval and other conditions set forth in the definitive agreement.
About NortheastTel
NortheastTel, headquartered in Collinston, LA is a full-service telephone and broadband services provider in rural northeastern Louisiana. The history of the current ownership of the company began in 1946 with the purchase of the Collinston Telephone Company. In 1953 the company was reorganized as Northeast Louisiana Telephone Company and has evolved over the years to where it is today. NortheastTel is a locally owned company offering customers world-class advanced telecommunications services utilizing a state-of-the-art fiber optic network and electronics.
About CP-TEL
Founded in 1933, CP-TEL has grown from a small independent telephone company providing service to the communities of Pleasant Hill, Campti, Pelican and Creston to a progressive telecommunications company delivering broadband and other communications services over state-of-the-art facilities.
CP-TEL has continued to grow their business by investing in Natchitoches, Sabine, DeSoto and Red River Parishes by expanding and upgrading their fiber-optic network and associated electronics throughout these areas. These investments have enabled CP-TEL to be able to offer customers fiber-optic connectivity with internet speeds up to 1G with no data sharing or throttling.
