Texas-based Grande Communications now has a brand new proprietor.
Stonepeak Infrastructure Companions, a personal fairness agency specializing in infrastructure investing, has purchasedAstound Broadband, which operates Grande Communications and its sister corporations, enTouch, Wave Broadband and RCN, in accordance with a Grande information launch. The sale was for $8.1 billion.
The sale is thelargest non-public fairness acquisition in the USin 2020. It is also the most importantcable transaction previously 5 years, in accordance with the information launch.
Grande stays totally in-place and engaged for patrons in Texas,stated Elsa Morales, Grande spokeswoman.Itwill proceed its lengthy historical past of delivering market main customer support and community efficiency to the communities it serves, she stated.
“In brief, its enterprise as common,” Morales stated.
This can be a fast-growing business, Morales stated. One of many key components driving this deal is the confirmed means of Stonepeak to work with Grande and Astounds different corporations “to proceed investing in growth right here in Texas and elsewhere.”
Astound Broadband is the sixth-largest U.S. cable operator within the U.S. Stonepeak will purchase the corporate from TPG Capital and Patriot Media Administration. The transaction is anticipated to shut within the second quarter of 2021.
Kathryn Cargo follows enterprise openings and developments whereas reporting on impacts of the town authoritiess selections.See our subscription options and special offers at Caller.com/subscribe.
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