This is M&A deal number 180 that ChannelE2E has covered so far in 2020. The pace of deals has slowed a bit since the coronavirus pandemic emerged, but overall M&A activity remains reasonable steady. See the complete M&A deal list here.
Hunter, founded in 1994, is a regional bandwidth, infrastructure, data and voice service provider in southern Oregon and northern California. Hunter's fiber-optic network, which spans more than 2,000 route miles, represents one of the largest private fiber-optic networks in Oregon, the company says.
Grain Management, formed in 2007, focuses on the global communications sector. The private equity firm has completed over 80 transactions and managed more than $2 billion across six investment cycles, according to its website. In addition to its Capital Region headquarters, Grain Management has operations in Sarasota, Florida.
Grain Management Acquires Hunter Communications: Key Perspectives
Grain Management declined to discuss the acquired company's size, but a spokesperson told ChannelE2E:
"Hunter remains a founder-led company with a talented management team and a growing, high quality fiber network. We believe the company is well-positioned for growth, and we expect to work closely with Hunter to continue its expansion, as the company continues its focus on customer satisfaction. Hunter will continue operating under its name for the foreseeable future."
Hunter Communications Founder and CEO Richard Ryan added:
“Hunter Communications is ideally positioned to further penetrate a growing fiber market with the backing of our new partners at Grain, who bring decades of communications industry expertise. This partnership is proof of the progress the Hunter team has made, establishing itself as an industry leader, servicing our customers for over 25 years. Our team is looking forward to the further expansion of our network as we continually improve the quality of our customer experience.”
The deal was first announced in August 2019. Bank Street Group advised Hunter while Perkins Coie served as legal adviser for the company.