M&A Deal Summary

Grain Management Acquires 123Net

On April 22, 2024, private equity firm Grain Management acquired communications company 123Net

Acquisition Highlights
  • This is Grain Management’s 12th transaction in the Communications sector.
  • This is Grain Management’s 13th transaction in the United States.
  • This is Grain Management’s 1st transaction in Michigan.

M&A Deal Summary

Date 2024-04-22
Target 123Net
Sector Communications
Buyer(s) Grain Management
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Bank Street (Financial)

Target

123Net

Southfield, Michigan, United States
123Net is a premier fiber internet, colocation, and business voice services provider that operates one of the largest carrier-neutral data centers and peers with technology leaders such as Google, AWS, GM, and others. 123Net was founded in 1995 and is based in Southfield, Michigan.

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Buyer(S) 1

Buyer

Grain Management

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 6.7B USD
Size Mega
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 14 of 14
Sector: Communications M&A 12 of 12
Type: Buyout (LBO, MBO, MBI) M&A Deals 8 of 8
State: Michigan M&A 1 of 1
Country: United States M&A 13 of 13
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 Quintillion

Anchorage, Alaska, United States

Quintillion is a private global communications corporation that built, owns, and operates a subsea and terrestrial high-speed fiber optic network that spans the Alaskan Arctic and connects to the Lower 48. Quintillion is based in Anchorage, Alaska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-07 Tachus

The Woodlands, Texas, United States

Tachus is a fiber broadband ISP company that offers enterprise-grade data-only services, all paired with local customer service. With a network that has passed over 26,000 homes and serves thousands of customers, the company continues to rapidly expand its residential fiber network to other parts of the Houston area. Tachus was formed in 2018 and is based in The Woodlands, Texas.

Sell -