Secondary Buyout • Communications

Grain Management Acquires Quintillion

On April 3, 2023, private equity firm Grain Management acquired communications company Quintillion from Cooper Investment Partners

Acquisition Context
  • This is Grain Management’s 11th transaction in the Communications sector.
  • This is Grain Management’s 12th transaction in the United States.
  • This is Grain Management’s 1st transaction in Alaska.

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M&A Deal Summary

Date April 3, 2023
Target Quintillion
Sector Communications
Buyer(s) Grain Management
Sellers(s) Cooper Investment Partners
Deal Type Secondary Buyout
Advisor(s) Bank Street (Financial)
Morgan Lewis (Legal)

Target Company

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.
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Buyer Overview 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 Context for Buyer #
Overall 13 of 14
Sector: Communications 11 of 12
Type: Secondary Buyout 3 of 3
State: Alaska 1 of 1
Country: United States 12 of 13
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 Spectrotel

Neptune, New Jersey, United States

Spectrotel is a next-generation aggregator and leading integrated technology services provider. Spectrotel was founded in 1996 and is based in Neptune, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-22 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.

Buy -

Seller Profile 1

SELLER

Cooper Investment Partners

New York, New York, United States

Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cooper Investment Partners is a private equity firm focused on investing in businesses undergoing change. Cooper looks to make control investments in strategic transitions, operational turnarounds, recapitalizations, bankruptcies, reorganizations, corporate divestitures, carve-outs, and non-strategic business units. Cooper Investment Partners was formed in 2010 and is based in New York.


Deal Context for Seller #
Overall 1 of 1
Sector: Communications 1 of 1
Type: Secondary Buyout 1 of 1
State: Alaska 1 of 1
Country: United States 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-28 Ventech Engineers

Pasadena, Texas, United States

Ventech is a design and construction of modular refineries. The company's unique methodology integrates design, fabrication and shipment of its modular refineries enabling operators to dramatically accelerate construction timelines and achieve significant cost savings.

Buy -