Rise Broadband Acquired: The Details
Rise says it will use the new capital to improve customer experience and accelerate its rollout of fiber-to-the-home services for rural American homes and businesses.Rise is the largest independent fixed wireless internet service provider in the U.S., serving primarily rural communities. CEO Jim O'Brien and the current executive team will continue leading Rise Broadband, the company said.Barclays acted as financial advisor to Rise Broadband and Bryan Cave Leighton Paisner acted as legal counsel. Stifel acted as financial advisor to GI Partners and Simpson Thacher & Bartlett acted as legal counsel.GI Partners Acquires Rise Broadband: Executive Insight
"Rise Broadband is committed to connecting communities across our vast network footprint by providing best-in-class service to our customers and to delivering advanced high-speed broadband. We are eager to partner with the GI Partners team as we embark on a new phase of growth, driven by significant investment in our hybrid fiber-to-the-home and fixed wireless network."
"Rise Broadband provides essential broadband connectivity with a focus on customers in rural America. We are excited to partner with Jim O'Brien and the Rise team to execute a multi-year, fiber-based network expansion effort. Rise's existing network infrastructure is uniquely positioned to execute a fiber expansion effort that will provide rural communities with next generation broadband service."
Broadband M&A
Broadband providers have proven to be interesting acquisition targets in recent years. In 2022 alone, at least half a dozen providers were bought up by competitors or private equity. Among the deals:- January 2022: Hilliary Communications acquired two telecom & broadband service providers in Oklahoma.
- January 2022: C Spire acquiree Troy Cablevision and Union Springs Telephone Company to expand its fiber optic network and broadband Internet service across Alabama.
- January 2022: Highway 89, backed by private equity firm Freedom 3 Capital, acquired four broadband companies that provide Internet service to multi-family apartments.
- April 2022: Broadband and technology company Nex-Tech acquired broadband and telephone service provider Moundridge Communications Network.
- July 2022: Commnet Broadband acquired Sacred Wind Enterprises, a private, rural telecommunications provider in the U.S. Southwest.
- November 2022: JSI, backed by private equity firm Stone-Goff Partners (SGP), acquired Mitchell Engineering, a network consultancy that serves broadband telecom operators.
