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Our Company roots run deep, founded in 1894 by Dr. I.A. Lumpkin in rural Illinois to provide Mattoon residents with a better phone service after Bell’s rapid expansion essentially abandoned the community leaving its poles to rot and its residents without service.
Mattoon Telephone Company was founded in 1894 serving the small, railroad crossing town of Mattoon in eastern Illinois. Dr. Lumpkin and the small team he assembled later expanded into eastern Illinois communities and acquired numerous Telephone Companies across eastern Illinois.
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In 1924, Illinois Consolidated Telephone Company (ICTC) was formed to provide better communications services to an expanded area in eastern Illinois.
In 1984, Consolidated Communications Inc., was formed as parent company of ICTC and its directory and telemarketing subsidiaries. The Telecommunications Act of 1996 was a significant piece of legislation that aimed to deregulate the telecommunications industry in the United States, promote competition, and encourage innovation. During this time of deregulation, the Company created a Competitive Local Exchange Company (CLEC) and an Internet Service Provider (ISP) business, opening new markets and launching new in-demand product lines.
At a time when the Company was faced with increasing opportunities for expansion combined with a more competitive landscape, ICTC and CCI subsidiaries merged with McLeodUSA in 1997, creating a super-regional telecommunications provider.
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In 2000, the Company launched Digital Subscriber Line (DSL) services, a new high-speed Internet service that boasted speeds multiple times of 56k speed analog modem service. DSL became the new “superhighway” for the Worldwide Web. This was the turning point for the Company to transition from being a voice provider to a broadband provider.
In 2002, the Company which operated under McLeodUSA the prior five years, was acquired by Richard Lumpkin, the grandson of the original founder, Dr. I.A. Lumpkin, and a group of investors. Mr. Lumpkin was proud to restore the Company’s local roots in Mattoon, Ill., and the company’s name was changed back to Consolidated Communications. DSL and the Internet Protocol technology paved the way for a new IPTV service in 2004 which was launched in eight of the largest Illinois markets and later expanded to all city locations in the Company’s service area. With a focus on bringing more bandwidth to customers to provide IP services, this early expansion was the beginning of our evolution as a fiber provider.
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In 2004, Consolidated acquired TXU Communications which added operations in the Lufkin, Conroe and Katy, Texas area, tripling the size of the company. In 2005, Consolidated became public and listed on the NASDAQ exchange under the ticker symbol CNSL.
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North Pittsburgh Systems, Inc. (NPSI) was acquired in 2007, adding western Pennsylvania to the Company’s service area. North Pitt’s operations included both an ILEC and CLEC, making this acquisition the company's first major CLEC expansion.
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In 2012, we acquired SureWest Communications (NASDAQ: SURW) with operations in the greater Sacramento and Kansas City regions. This merger extended the Company’s service area to six states.
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Just two years later, in 2014, Consolidated added Enventis Corporation, formerly HickoryTech (NASDAQ: ENVE/HTCO) to its portfolio, which included a robust fiber network and operations in Minnesota, Iowa and North Dakota.
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In 2016, we acquired Illinois-based Champaign Telephone Company (CTC), a privately held business equipment and cabling provider, located in Champaign, Ill. Also in 2016, Consolidated completed the divestiture of its Iowa based Heartland Telecommunications Company to Mutual Telephone Company of Sioux Center, Iowa (Premier) and Winnebago Cooperative Telecom Assoc.
The Company’s largest acquisition occurred in 2017 with the addition of FairPoint Communications (NASDAQ: FRP) which doubled our company size. With the addition of FairPoint, which was concentrated in the Northern New England area, the Company grew to serve more than 20 states.
As we integrated FairPoint operations, we simultaneously conducted a portfolio review which resulted in the divestiture of non-strategic assets. In 2018, the Company sold its Virginia property to Wilkes Communications.
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In September of 2020, Consolidated announced a strategic investment from Searchlight Capital Partners, which accelerated the Company’s fiber growth plan to bring superior broadband services to more than 1 million customers.
Fidium Fiber broadband service was born in November 2021, bringing an all-new, reimagined customer experience, Gigabit speeds and whole-home Wifi to Maine, New Hampshire and Vermont communities. Fidium services were later launched across Consolidated’s service area.
In 2022, Consolidated sold our Kansas City assets to Allinda Capital Partners and sold its Ohio assets to Hanson Communications of Ohio, LLC. The Company also divested of certain non-core communication towers. Consolidated sold its limited partnership interests in five wireless investments to Cellco Partnership, d/b/a Verizon Wireless.
In 2023, Consolidated received a “take private” proposal from Searchlight Capital Partners, L.P. and British Columbia Investment Management, which was overwhelmingly approved by shareholders on Jan. 31, 2024. Consolidated’s Washington assets were sold to Palisade Infrastructure in May of 2024.
On Dec. 27, 2024, Searchlight Capital Partners, L.P. and British Columbia Investment Management Corporation closed on its acquisition of Consolidated. As a result, we are now a privately held company, focused on expanding fiber broadband service, and the benefits that come with better internet, to communities throughout its service area.
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