BRUCE TELECOM TO BE ACQUIRED BY WINDSOR PRIVATE CAPITAL
FOR IMMEDIATE RELEASE
October 5, 2023
KINCARDINE, Ontario – Today, the Municipality of Kincardine announced that it has entered into an agreement with Windsor Private Capital for the acquisition of Bruce Telecom Inc. by way of a friendly acquisition bid. Bruce Telecom provides the communities of Chesley, Kincardine, Port Elgin, Tiverton, Owen Sound, Southampton and the surrounding region with a full range of home and business phone, internet, TV and mobile services.
“We are delighted with the acquisition of Bruce Telecom and look forward to introducing our customers to Windsor Private Capital, knowing they will continue to enjoy an extensive selection of services,” said Ray Lahoud, CEO of Bruce Telecom. “Windsor Private Capital brings capital and strategic connections that will strengthen our company’s position in the market, benefitting our employees and customers.”
“Bruce Telecom is an excellent communications provider and an organization that has shown remarkable commitment to customer experience,” said Marco Di Carlantonio, Senior Vice-President, Windsor Private Capital. “Our shared values and vision make us confident that this new chapter will lead to a prosperous future for Bruce Telecom and the communities we serve. We are pleased to confirm that Bruce Telecom’s management, employees and partners remain unchanged, and will continue to provide customers with the same high quality of service they depend on.”
The transaction is subject to Innovation, Science and Economic Development Canada (ISED) approval. It is anticipated that the transaction is expected to close in the last quarter of 2023, at which time Windsor Private Capital will own 100 per cent of shares of Bruce Telecom.
Bruce Telecom is a municipal telecommunications company wholly owned by the Corporation of the Municipality of Kincardine. It provides the communities of Kincardine, Port Elgin, Tiverton, Southampton, Chesley, Paisley, Owen Sound and the surrounding region with a full range of home and business land-line, Internet, TV and mobile services, as well as a suite of business services including hosted PBX. The company is under the directorship of a Board of Directors, appointed by the municipality in 2017. For more information, please visit www.brucetelecom.com.
About Windsor Private Capital
Windsor Private Capital is an investment firm based in Ontario with a breadth of experience in a wide range of industry sectors. Together with its affiliates, the organization advises and manages over $3 billion on behalf of institutional and private investors. Most recently, Windsor Private Capital expanded the WPC Infrastructure Fund through investment in EH!Tel Networks and now Bruce Telecom on behalf of LiUNA Pension Fund of Central and Eastern Canada, one of the country’s largest private sector union sponsored pension funds. This has deepened Windsor Private Capital’s commitment to Southwestern Ontario and the telecommunications industry.
Underpinned by its core values of loyalty, trust, integrity, creativity and teamwork, Windsor Private Capital is a reflection of its family roots and the belief in going beyond the transactional to build business connections that endure. For more information, visit www.windsorgp.com.
About Municipality of Kincardine
The Municipality of Kincardine is a proud community steeped in Scottish heritage with a tradition of welcoming everyone with warm hospitality. Located on the shores of Lake Huron and home to over 12,000 people, this is where small town charm and a thriving economy find balance. It’s where world-class nuclear companies innovate and agricultural lands grow abundantly. Vibrant energy infuses festivals, events and everyday life with a naturally breathtaking environment rooting it all. To learn more about the Municipality of Kincardine, visit www.kincardine.ca.
Ray Lahoud, President & Chief Executive Officer
Municipality of Kincardine:
Jillene Bellchamber-Glazier, Chief Administrative Officer