Suddenlink Communications is being sold for $6.6 billion to BC Partners and CPP Investment Board (CCPIB).
The change in ownership is not expected to affect jobs or service.
The company announced the impending purchase last week. The deal should be finalized by the end of the year. Suddenlink is currently run by Cequel Communications Holdings, LLC.
"This agreement will allow us to continue to invest in our infrastructure, new technology, and most importantly, our people," Suddenlink's Chairman and CEO Jerry Kent said in a statement on the company's website.
CCP Investment Board is headquartered in Toronto. It primarily invests funds not needed by the Canada Pension Plan, but is managed independently of the government.
"We are delighted to partner with Suddenlink's management team and BC Partners to position the company for continued growth and long-term success," André Bourbonnais said. He is the Senior Vice-President of Private Investments for CPPIB.
BC Partners is a private equity firm with offices in Europe and North America. It also owns Com Hem, a leading supplier of television, broadband and telephone service in Sweden. BC Partners also helped created Unitymedia, which is Europe's third largest cable operator.
Suddenlink is the seventh largest cable system operator in the country. It services 1.4 million customers all over the country, including Abilene and the Big Country.