Consolidated Communications

Consolidated Communications Holdings, Inc.

Company type	Public
Industry	Telecommunications
Founded	January 1, 1894 (1894-01-01) in Mattoon, Illinois, United States
Founder	Dr. Iverson A. Lumpkin
Headquarters	Mattoon , United States
Area served	23 U.S. states
Key people	Bob Udell (CEO)
Products	Broadband, business communication services, data, internet, voice, managed and hosted services, cloud computing, IT support, internet access, television, telephone, home security
Revenue	US$1.2 billion (2022)
Operating income	US$42.8 million (2022)
Net income	US$100 million (2022)
Total assets	US$3.8 billion (2022)
Total equity	US$1 billion (2022)
Number of employees	3200
Website	consolidated.com

Consolidated Communications Holdings, Inc. is a U.S.-based provider specializing in broadband and business communication services, with its main office located in Mattoon, Illinois. Operating over 36,000 miles of fiber routes, it stands among the leading ten fiber network operators nationwide, delivering services throughout 23 states.

The company supplies a broad range of solutions including data, internet, voice, managed and hosted services, cloud computing, and IT support tailored for business customers. For residential users, it offers internet access, television, telephone, and home security products. Since 2005, Consolidated Communications has been publicly traded on the NASDAQ stock exchange under the symbol CNSL.

In 2022, the organization recorded revenues of approximately US$1.2 billion, with operating income reaching US$42.8 million and net income totaling US$100 million. Its asset base was valued at US$3.8 billion, supported by equity of US$1 billion. The company employs around 3,200 staff members and is currently led by CEO Bob Udell.

History

The origins of Consolidated Communications trace back to 1894 when Dr. Iverson A. Lumpkin founded the Mattoon Telephone Company in Mattoon, Illinois.

By 1924, the enterprise had transformed into the Illinois Consolidated Telephone Company (ICTC), expanding its footprint through acquiring various regional telephone entities such as those serving Christian and Montgomery Counties, the Illinois Southeastern Telephone Company, and the Effingham exchange previously owned by Illinois Bell.

In 1984, Consolidated Communications, Inc. (CCI) was created to serve as the parent corporation for ICTC and its subsidiaries. Following a merger with McLeodUSA in 1997, CCI underwent ownership change in 2002 when investors led by ICTC’s Chairman and President Richard A. Lumpkin purchased it and subsequently rebranded it as Consolidated Communications.

A pivotal moment occurred in December 2024 when Consolidated Communications Holdings, Inc. finalized a $3.1 billion merger with Condor Merger Sub Inc., an affiliate of Condor Holdings LLC supported by Searchlight Capital Partners and British Columbia Investment Management Corporation. This deal led to a complete overhaul of the board of directors, signifying a major alteration in governance and ownership structure.

States

Across 23 U.S. states, the company delivers a variety of services including internet connectivity, traditional landline or VoIP telephone service, home security systems, pay TV offerings, web hosting solutions, and wholesale data transmission.

Acquisition History

• April 2004: Purchased TXU Communications based in Texas.
• December 2007: Completed acquisition of North Pittsburgh Systems Inc., encompassing North Pittsburgh Telephone Company, Nauticom, and Penn Telecom.
• July 2012: Expanded into Roseville and Sacramento in California as well as Kansas City through acquiring SureWest Communications.
• October 2014: Added operations in Minnesota, Iowa, Wisconsin, South Dakota, and North Dakota by acquiring Enventis Corporation (formerly HickoryTech).
• July 2016: Strengthened business communication services in Champaign-Urbana, Illinois by acquiring Champaign Telephone Company (CTC).
• July 2017: Grew its footprint to cover 24 states following acquisition of FairPoint Communications.