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4.15.1999
Great Hill Partners Commits $20 Million In Horizon Telecom International, Inc.
Boston, Mass., April 15, 1999 - Great Hill Equity Partners recently closed a $20 million equity commitment to Horizon Telecom International (HTI). HTI was formed in 1997 to acquire cable television licenses in mid-sized Brazilian cities and to build and operate state-of-the-art wireline networks in the target markets. The Company has successfully completed the first stage of its development by acquiring 15 concessions covering approximately 850,000 homes. HTI was the fourth-largest winner in the Brazilian Government Cable-TV Concession Auctions, and has immediately established itself as one of the largest MSOs in Brazil and Latin America. The media community in Brazil has identified HTI as the clear winner of the auctions both in terms of most attractive pricing and highest quality concessions. "We are very excited about the great team we have assembled in Brazil," said John Hayes, Managing Partner, Great Hill Partners. "We believe that these cities are excellent candidates for the development of a cable television business based on their demographics, home density and ease of construction."
HTI's objective is to build-out its awarded concessions and surrounding areas to cover approximately 1 million homes. The investment from Great Hill Partners will be used to fund HTI's network build, pursue strategic acquisitions, and fund future service offerings including high-speed data and telephony service.
Great Hill Equity Partners is a Boston-based investment firm that provides equity financing and strategic guidance to companies in the Media, Information, Telecom, and Business Service sectors. The firm has closed on, and has begun investing, Great Hill Equity Partners Limited Partnership, a $330 million private equity fund raised from institutional investors including leading commercial and investment banks, state and corporate pension funds, university endowments, and private trusts.
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