Grain Management finishes Summit Broadband buy
Grain Management, LLC, a Washington, D.C.-based investment firm focused on the global communications market, says it has completed its previously announced agreement to buy a majority interest in Summit Vista, Inc., which does business as Summit Broadband (see “Grain Management to buy Florida’s Summit Broadband”). Cable Bahamas was the prior owner. Terms of the deal were not disclosed.
Founded in 1994, Summit Broadband serves residents and businesses in central and southwest Florida. It operates a fiber-optic network of more than 1800 fiber route miles, which it uses to offer voice, video, data, and internet services, as well as Ethernet and dark fiber transport.
"Summit has an impressive history of serving businesses across multiple industries and residential customers in central and southwest Florida communities," said David Grain, founder and CEO of Grain Management, when the deal was first announced last August. "As a global investor in the industry, Grain is poised to partner with Summit in advancing its position as a leading fiber-optic telecommunications provider, and aid in the expansion of these services in an increasingly smart and connected world."
The transaction is one of three Grain announced since August. The company also has agreements in place to purchase Hunter Communications, Inc., which Grain says owns and operates one of the largest private fiber-optic networks in Oregon (see “Grain Management to buy Hunter Communications”), and Ritter Communications of Arkansas. The investment firm also has stakes in Great Plains Communications and WANRack.
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
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