Otelco Being Bought by Private Equity Firm Affiliates

Affiliates of private equity firm Oak Hill Capital are buying Otelco. The telco has some 33,000 customers in the Northeast, mid-Atlantic and South with an enterprise value of $105.6 million, the phone company said Monday. "We believe Oak Hill will provide the resources to speed up our network upgrade plan," said Chairman Stephen McCall. Q4 closing is expected.