Consolidated Communications has completed the sale of its Washington assets to Palisade Infrastructure, effective May 1, 2024.
Initially announced last August, this divestiture aligns with the company’s ongoing strategic asset review and focuses on its fiber expansion plans in core broadband regions.
Consolidated’s Washington operations include about 9,950 data connections and 8,500 access lines and contributed approximately $20 million of revenue in fiscal 2023.
Lazard served as the exclusive financial advisor to Consolidated on the transaction.
Palisade is familiar with Washington State’s fiber broadband market, having previously struck a deal to acquire Rainier Connect in December 2022. The company intends to develop a regional fiber and high-speed broadband connectivity platform by investing in these markets, which will benefit all stakeholders, including employees, customers, and communities.