U.S.-based investor in data infrastructure businesses GI Partners has completed its acquisition of Rise Broadband, a provider of broadband services across 16 U.S. states.
GI Partners said in a press release that it is "committing meaningful new capital to improve customer experience" and accelerate Rise Broadband’s rollout of fiber-to-the-home (FTTH) services for rural American homes and businesses.
Based in Englewood, Colorado, Rise Broadband is one of the largest independent fixed wireless and FTTH broadband internet service providers in the U.S., serving primarily rural communities.
Jim O’Brien, CEO of Rise Broadband, said the company's current executive team will continue to lead it. O’Brien commented:
“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.”
Barclays acted as financial advisor to Rise Broadband and Bryan Cave Leighton Paisner acted as legal counsel in the transaction. Stifel acted as financial advisor to GI Partners and Simpson Thacher & Bartlett acted as legal counsel.
Brendan Scollans, managing director and co-head of GI Data Infrastructure, concluded:
“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.”