New York private equity firm Seaport Capital LLC is acquiring cable, Internet and phone services company Everest Connections LLC. No deal value was announced, but GE Commercial Finance said in a press release Tuesday that it was providing $68.7 million in senior secured debt to finance the buyout. Seaport typically invests $5 million to $35 million in middle-market media, telecommunications, information and business services companies valued at between $15 million and $200 million.

The Lenexa, Kansas-based telecom, a spin-off of Kansas City, Mo.-based utility company Aquila Inc., provides cable television, broadband Internet and telephony services to residential and business customers in Kansas City, Lenexa, Shawnee, Mo., Overland Park, Kan., and in other nearby cities. It has 34,000 subscribers in the Kansas City metropolitan area. The average annual income of the company's subscribers within the Everest area zip code radius is $81,480, according to data collected by Everest Connections.

Steve McCall, a partner of Seaport Capital, said in a statement that his firm looks "forward to continuing the company's commitment to provide high quality, competitively priced telecommunications services and outstanding customer service."

Officials from Seaport Capital and Everest did not return calls for comment.

Mark Bernier, a senior vice president at GE Commercial Finance, originated the transaction for GE. He said that Seaport had worked with GE on several transactions in years past.

The debt financing closed June 30.