M&A Deal Summary

Searchlight Capital Partners and WaveDivision Capital Acquire Ziply Fiber

On May 29, 2019, private equity firms Searchlight Capital Partners and WaveDivision Capital acquired communications company Ziply Fiber from Frontier Communications for 1.4B USD

Acquisition Highlights
  • This is Searchlight Capital Partners’ 7th and WaveDivision Capital’s 2nd transaction in the Communications sector.
  • This is Searchlight Capital Partners’ 2nd and WaveDivision Capital’s largest (disclosed) transaction.
  • This is Searchlight Capital Partners’ 9th and WaveDivision Capital’s 2nd transaction in the United States.
  • This is Searchlight Capital Partners’ 3rd and WaveDivision Capital’s 1st transaction in Washington.

M&A Deal Summary
Date 2019-05-29
Target Ziply Fiber
Sector Communications
Buyer(s) Searchlight Capital Partners
WaveDivision Capital
Sellers(s) Frontier Communications
Deal Type Divestiture
Deal Value 1.4B USD

Target

Ziply Fiber

Everett, Washington, United States
website
Ziply Fiber is a telecommunications network business comprises a network that passes 1.7 million residential and business locations, of which approximately 500,000 are fiber-to-the-premises capable. Ziply Fiber is based in Everett, Washington.

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Buyer(S) 2

Buyer

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.

DEAL STATS #
Overall 17 of 38
Sector (Communications) 7 of 12
Type (Divestiture) 1 of 3
State (Washington) 3 of 3
Country (United States) 9 of 21
Year (2019) 1 of 4
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 Liberty Cablevision of Puerto Rico

Luquillo, Puerto Rico

Liberty Cablevision of Puerto Rico Ltd. is a provider of television, broadband Internet, and telephony services to customers. Liberty Cablevision of Puerto Rico Ltd. was founded in 1986 and is based in Luquillo, Puerto Rico.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-24 B Communications

Ramat Gan, Israel

B Communications Ltd. provides various communications services for business and private customers in Israel. B Communications was formed in 1999 and is based in Ramat Gan, Israel.

Buy -
Buyer

WaveDivision Capital

Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
Size Small
Type Sector Focused
DESCRIPTION

WaveDivision Capital is a private investment firm focused on the broadband industry. WaveDivision Capital was formed in 2003 and is headquartered in Kirkland, Washington.

DEAL STATS #
Overall 2 of 4
Sector (Communications) 2 of 4
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 2 of 3
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Hargray Communications Group

Hilton Head, South Carolina, United States

Hargray Communications Group, Inc. is a telecommunications provider serving southeastern South Carolina and northeastern Georgia. The company's operations include traditional telephone carrier services, internet services, cable television, wireless telephone, and a telephone directory publishing operation. Hargray Communications Group was founded in 1949 and is based in Hilton Head, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-27 Xplornet

Woodstock, New Brunswick, Canada

Xplornet is a provider of broadband access to rural consumers across Canada using both 4G Wireless and two-way next-generation satellites. Xplornet has been providing innovative fixed and mobile broadband solutions to rural customers at work, home and plays across Canada. Xplornet offers voice and data communication services through its unique hybrid fiber wireless and satellite network that connects Canadians to what matters. Xplornet was founded in 2004 and is based in Woodstock, New Brunswick.

Buy -

Seller(S) 1

SELLER

Frontier Communications

Norwalk, Connecticut, United States

website

Category Company
Founded 1935
Sector Communications
Employees14,708
Revenue 5.8B USD (2022)
DESCRIPTION

Frontier Communications is a provider of broadband, voice, satellite video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses, and home offices, and advanced communications for medium and large businesses in 27 states. Frontier Communications was founded in 1935 and is headquartered in Norwalk, Connecticut.

DEAL STATS #
Overall 3 of 3
Sector (Communications) 3 of 3
Type (Divestiture) 3 of 3
State (Washington) 1 of 1
Country (United States) 3 of 3
Year (2019) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 Frontier Communications - Wireless Towers

Norwalk, Connecticut, United States

Frontier Communications Corp. - Wireless Towers includes 100 wireless tower assets in Norwalk, Connecticut.

Sell -
Mergr

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