Cision PR Newswire
Rise Broadband Announces Acquisition by GI Partners
News provided byGI Partners
Feb 02, 2023, 7:30 AM ET
Long-Term Investment Will Expand High-Quality Broadband Services in Rural Communities
ENGLEWOOD, Colo., Feb. 2, 2023 /PRNewswire/ -- Rise Broadband, a leading provider of broadband services across 16 states, today announced it has completed an acquisition by GI Partners, a leading U.S.-based investor in data infrastructure businesses. In addition, GI Partners is committing meaningful new capital to improve customer experience and accelerate Rise Broadband's rollout of fiber-to-the-home services for rural American homes and businesses.
Based in Englewood, Colorado, Rise Broadband is the largest independent fixed wireless internet service provider in the U.S., serving primarily rural communities. Jim O'Brien, the Chief Executive Officer, and the current executive team will continue leading Rise Broadband.
"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," said Jim O'Brien, CEO of Rise 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."
"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," said Brendan Scollans, Managing Director and Co-Head of GI Data Infrastructure. "Rise's existing network infrastructure is uniquely positioned to execute a fiber expansion effort that will provide rural communities with next generation broadband service."
Barclays acted as financial advisor to Rise Broadband and Bryan Cave Leighton Paisner acted as legal counsel. Stifel acted as financial advisor to GI Partners and Simpson Thacher & Bartlett acted as legal counsel.
About Rise Broadband
Rise Broadband, headquartered in Englewood, Colorado, is a leading provider of fiber-to-the-home and fixed wireless broadband services across 16 states. Rise Broadband is dedicated to providing reliable high-speed internet and connecting communities one customer at a time. For more information, please visit www.risebroadband.com.
About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 140 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has assets under management totaling $35 billion and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the healthcare, services, and software sectors. The real estate strategy focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com/.
Chris Tofalli Public Relations LLC
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SOURCE GI Partners