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Plans to Accelerate Single Family Home Fiber Deployment
TERRE HAUTE, Ind. — Joink, LLC, with support from its growth capital partner, DIF Capital Partners (DIF), recently entered into a definitive agreement to acquire 100% of Computer Techniques, Inc (CTI). This acquisition will provide additional management and capital resources to support the current CTI team and significantly increase the speed of CTI’s fiber-to-the-home deployment in Central Illinois. The acquisition is subject to regulatory approval.
CTI co-founders Adam Vocks and Billy Williams founded the company in 1998. Over the years the company has transformed from a computer sales and service business into a facilities-based provider that now exclusively services its connectivity customers with fiber optics. The CTI network passes over 12,000 homes across Christian County and Montgomery County, supported by staff from its offices in Taylorville and Hillsboro in Illinois. CTI provides internet, voice, and video to residential customers and internet, voice, and private transport data solutions to business customers.
Adam Vocks said “We were in search of a party that had the resources and the capability to allow CTI to fulfill its mission to bring high quality fiber broadband Internet service to as many homes and businesses in Central Illinois as possible. The shared vision of the two companies, combined with similar success stories, makes Joink the perfect acquiror for CTI to finally allow our accelerated expansion plans to become a reality. I am thrilled for our customers and employees to be part of this future.” Billy Williams added “Over time, high speed Internet access has evolved from a luxury to a necessity. Its importance is growing daily, and I couldn’t be prouder of our team for the significant work we’ve done to position for continued growth and success.”
“We are very pleased to see Joink executing on the growth plan and adding new markets in Illinois, through the acquisition of CTI,” stated Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy. “The strategic rationale of the CTI acquisition is fully aligned with our fiber-to-the-home roll out strategy to ensure that the residents in Indiana and Illinois have reliable high-speed internet access. This highly complementary acquisition by Joink will allow it to serve customers better and continue to further bridge the digital divide.”
“We look forward to integrating CTI’s operations and team led by Bobbie Dean, CTI’s CEO, who will be part of the senior leadership team of Joink, after the transaction closes. Central Illinois had a great day today as we announce our plans to accelerate the expansion of CTI’s fiber network.” stated Josh Zuerner, President and CEO of Joink. “We recognize the importance of high-quality broadband and look forward to providing a best-in-class fiber-optic connectivity experience to end users in Illinois and Indiana.”
Pinpoint Capital Advisors served as financial advisor to CTI. Agentis Capital served as financial advisor to Joink and DIF.
About CTI – CTI is headquartered in Taylorville, IL and provides fiber internet to residential and commercial subscribers throughout Christian County and Montgomery County in Central, Illinois. CTI is well known in its communities and services almost all anchor institutions – including local city and county governments, K-12 school districts, colleges, hospitals, libraries, and many small and medium businesses. CTI has been in business for over 20 years and has over 75 employees. CTI is headquartered in Taylorville, Illinois. More info: www.ctitech.com.
About Joink, LLC – Joink is Midwest’s leading provider of wireless Internet service in rural markets in Indiana and Illinois. Joink has installed over 570 miles of fiber in the five-county area and offers service to enterprise, commercial, carrier, and residential customers. Joink counts as customers almost all anchor institutions in its footprint. Joink’s main fiber network ring connects Vigo, Vermillion, Parke, and Clay County. It also has fiber-optic assets installed throughout Sullivan County. Joink operates over 100 fixed-wireless transmit points. Building and maintaining a large network requires tremendous knowledge and expertise, and customers grew to recognize and count on that expertise. As a result, they increasingly leaned on Joink to assist them when faced with technology challenges. Joink addresses these challenges through its Hosting, Technology Services, and Managed Services divisions. Last year, the State of Indiana awarded seven Indiana Next Level Connects Projects to Joink. Additionally, Vigo County Government and the City of Terre Haute supported the Vigo County School Corporation in extending Joink’s network to 84 community access locations. This year, the State of Indiana awarded five projects to Joink – one for each county it serves. Joink has been in business for over 20 years and has over 100 employees. Joink is headquartered in Terre Haute, Indiana. More info: www.joink.com.
About DIF Capital Partners – DIF Capital Partners is a leading global independent fund manager, with more than 13.5 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets primarily located in Europe, the Americas, and Australasia through two complementary strategies:
Traditional DIF funds which targets equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects; and
DIF CIF funds which target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy, and transportation sectors.
DIF supports the goal of Net Zero greenhouse gas emissions by 2050, in-line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner.
DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. More info: www.dif.eu.