Unity Foundation sells UniTel to its CEO

Posted May 01, 2013, at 2:27 p.m.

UNITY, Maine — The CEO of UniTel, a privately owned local telecommunications company based in Unity, has purchased the company from the foundation that has owned it since 2001.

Laurie Osgood, who has served as UniTel’s president and CEO since 2003, acquired its parent company, UniTek, from the Unity Foundation, a philanthropic organization founded by the late Bert Clifford and his wife, Coral, in 2000, according to an announcement from the company. In addition to her role at UniTel, Osgood has also been CEO of UniTek since 2008.

Bert Clifford purchased a majority stake in UniTel in 1963, though it was known as the Unity Telephone Co. then. When Bert Clifford passed away in 2001 the company’s assets were placed into the Unity Foundation. Coral Clifford passed away earlier this year.

“I am thrilled by this unique opportunity to purchase the UniTel family of companies, to keep it growing, and to create and keep local jobs,” Osgood said in a statement. “We will remain a significant economic force in the rural community, while ensuring our customers benefit from advanced technology and service value.”

With the purchase of UniTek, Osgood also acquired UniCap, a provider of long distance, broadband Internet and video service, and Bluestreak wireless Internet service. Details of the transaction were not released.

“UniTel has long been a vital part of Unity’s local economy,” Larry Sterrs, chairman of both UniTek’s board and of the Unity Foundation, said in a statement. “Since Bert Clifford purchased the telephone company in 1963, it has remained both technologically advanced and a source of jobs and community support in rural Maine. The Unity Foundation is pleased that with the sale of the company Ms. Osgood will continue to build local economic strength.”

 

http://bangordailynews.com/2013/05/01/news/midcoast/unity-foundation-sells-unitel-to-its-ceo/ printed on December 20, 2014