Private equity firm GTCR’s Rural Broadband Investments agreed to buy...
Private equity firm GTCR’s Rural Broadband Investments agreed to buy NewWave Communications from Pamlico Capital. “This acquisition … is a great first step and provides us with an excellent platform to build upon,” said Phil Spencer, Rural Broadband Investments’ CEO.…
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GTCR has been looking at “numerous opportunities in the cable industry,” said Phil Canfield, a managing director. “We look to build a leading cable platform through increasing high-speed data penetration, growth in commercial services and accretive acquisitions.” NewWave passes about 250,000 homes in Illinois, Indiana, Missouri and Arkansas. It has about 90,000 subscribers. Rural Broadband Investments said it plans to continue buying small and mid-sized cable operators until it reaches 300,000-400,000 subscribers.