Privately held Hargray Communications Group, which offers services in southeastern South Carolina and northeastern Georgia, is being sold.

Hargray said Monday that it had agreed to be acquired by Quadrangle Capital Partners.

Details of the transaction were not disclosed.

The deal also includes Hargray’s directory-publishing arm.

Once the deal is complete, G. Thomas Reed will become chief executive officer of the operation. He currently is CEO of an investment banking advisory firm in Hilton Head.

Hargray has more than 400 employees. Its headquarters will remain in Hilton Head.

Quadrangle Group is a private investment firm with more than $5 billion under management.