MOORESVILLE, NC– A recent review of town-owned communications asset, Continuum, has motivated the elected officials of Mooresville and Davidson to put the successful company on the market.
“The time is right to sell,” said Mooresville Mayor Miles Atkins. “Continuum has grown to become a competitive digital network. Selling would give us long-term financial flexibility that lets us turn our focus toward building infrastructure that paces our booming population.”
The Towns of Mooresville and Davidson have retained RBC Capital Markets as their exclusive financial advisor for the sale that is expected to garner significant interest from qualified buyers. If the Towns receive a satisfactory offer, the citizens of Mooresville and Davidson will be asked to approve the sale on the November ballot, per state statute.
Originally called MI-Connection, the company was established in 2007 as an interlocal agency by North Carolina legislature and the towns of Mooresville and Davidson in order to build an advanced communication network that better served their communities. By acquiring the assets of Adelphia Communications Corporation, and bringing on board cable industry veteran, CEO David Auger, Continuum has since grown revenue by 50%, increased EBIDA (earnings before interest, depreciation and amortization) by 400% and built a 1GHz digital network with extensive fiber deployment serving more than 17,000 residential and business customers in the towns of Mooresville, Davidson and Cornelius. In 2016, Auger led a rebranding of the company, now Continuum, to better reflect their range of products and continued commitment to core community values.
“No matter how you might feel about local government owning a cable company, we should all feel extremely proud of what we’ve managed to build since the purchase,” said Davidson Mayor Rusty Knox.
Not only has Continuum shown remarkable performance in an industry where growth isn’t always typical, they’ve managed to do so with a team of 72 employees offering 100% local service and support. “We’ve done the work and it shows,” said Auger. “We put the fiber in the ground when no one else would. We invested in local people and premium products. Our remarkable performance makes this purchase a no-brainer for someone to take what we’ve built and run with it.”
Facts about Continuum:
• Website is www.ourcontinuum.com
• State-of-the-art Video, Internet and Voice services including residential, business and enterprise solutions.
• Service and support is 100% local, 24/7
• Continuum has 72 Employees
• CEO is David Auger, a 30-year cable veteran
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