M&A Deal Summary

Grain Management Acquires Summit Broadband

On August 18, 2019, private equity firm Grain Management acquired communications company Summit Broadband from Cable Bahamas

Acquisition Highlights
  • This is Grain Management’s 4th transaction in the Communications sector.
  • This is Grain Management’s 4th transaction in the United States.
  • This is Grain Management’s 1st transaction in Florida.
Investment Fate
  • Summit Broadband was sold to a consortium of financial buyers in 2020.

M&A Deal Summary

Date 2019-08-18
Target Summit Broadband
Sector Communications
Buyer(s) Grain Management
Sellers(s) Cable Bahamas
Deal Type Divestiture

Target

Summit Broadband

Orlando, Florida, United States
website
Summit Broadband is a fiber-optics telecommunications provider in central and Southwest Florida. Summit Broadband provides voice, video, data and high-speed internet services to residential and commercial customers, as well as Ethernet and dark-fiber transport to enterprise and carrier customers. Summit Broadband was founded in 2009 and is based in Orlando, Florida.

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Buyer(S) 1

Buyer

Grain Management

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Grain Management LLC is a private equity firm focused on the communications sector. The Firm looks to acquire assets and companies valued from $20 to $150 million and will consider opportunities throughout North America. Specific areas of interest include fiber, spectrum, cell towers, and other communications assets. Grain Management LLC was established in 2007 and is headquartered in Washington, DC.


DEAL STATS #
Overall 4 of 14
Sector (Communications) 4 of 12
Type (Divestiture) 1 of 1
State (Florida) 1 of 3
Country (United States) 4 of 13
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-12 Ritter Communications

Jonesboro, Arkansas, United States

Ritter Communications is a regional provider of internet, phone, video services, and cloud solutions to business, residential and wholesale customers in the Mid-South region of the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-20 Hunter Communications

Central Point, Oregon, United States

Hunter Communications, Inc. is a provider of high bandwidth data and voice service to businesses and homes throughout southern Oregon and parts of northern California. Hunter Communications was founded in 1992 and is based in Central Point, Oregon.

Buy -

Seller(S) 1

SELLER

Cable Bahamas

Nassau, Bahamas

website


Category Company
Founded 1995
Sector Communications
DESCRIPTION

Cable Bahamas Ltd. is the nation’s communications provider of choice. Cable Bahamas Ltd. has grown from a cable TV service provider to incorporate broadband Internet (March 2000) and telephony (2011). Through launching its REV suite of products – REVTV, REVON and REVOICE, Cable Bahamas Ltd. became the first communications provider in The Bahamas to offer ‘triple play’ service and continues to revolutionize every area of business, delivering unbeatable services at the lowest rates in the country.


DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 Summit Broadband

Orlando, Florida, United States

Summit Broadband is a fiber-optics telecommunications provider in central and Southwest Florida. Summit Broadband provides voice, video, data and high-speed internet services to residential and commercial customers, as well as Ethernet and dark-fiber transport to enterprise and carrier customers. Summit Broadband was founded in 2009 and is based in Orlando, Florida.

Buy -