Consolidated sells Washington State assets to Palisade Infrastructure

Palisade Infrastructure, a global independent, specialist infrastructure and tangible assets manager, reached a deal to acquire Consolidated’s Washington State assets.

Under the terms of the agreement, Palisade will gain Consolidated’s incumbent networks in Ellensburg and Yelm comprising a mixture of fiber-to-the-home and DSL technologies. Upon completion, Palisade intends to accelerate the fiber network build-out in these markets, providing high-speed connectivity to households and businesses.

Earlier, Consolidated struck a public-private partnership with Ellensberg to provide FTTH services to the community. In June 2022, Consolidated began constructing a network that will serve 3,000 homes and businesses.

Palisade is hardly a stranger to Washington State’s fiber broadband market, having 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 to benefit all stakeholders, including employees, customers, and communities.

“We are excited to expand our fiber broadband platform in Washington State, in attractive markets that are in proximity to the Rainier Connect network,” said Mike Reynolds, managing director at Palisade Infrastructure. “We look forward to continuing to grow the platform in the future.”

Following the closing of its investment in the PureSky Energy community solar platform in June 2023, the Consolidated purchase represents Palisade’s fourth transaction in North America. Palisade is planning to launch a new fund focused on investing in digital connectivity and the energy transition later this year.

This acquisition remains subject to federal, state and local regulatory approvals and customary closing conditions.