M&A Deal Summary

Grain Management and Farol Asset Management Acquire Ritter Communications

On August 12, 2019, private equity firms Grain Management and Farol Asset Management acquired communications company Ritter Communications

Acquisition Highlights
  • This is Grain Management’s 3rd and Farol Asset Management’s 1st transaction in the Communications sector.
  • This is Grain Management’s 3rd and Farol Asset Management’s 12th transaction in the United States.
  • This is Grain Management’s 1st and Farol Asset Management’s 1st transaction in Arkansas.

M&A Deal Summary

Date 2019-08-12
Target Ritter Communications
Sector Communications
Buyer(s) Grain Management
Farol Asset Management
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Cowen (Financial)
Morgan Lewis (Legal)

Target

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. Ritter Communications was founded year 1906 and is based in Jonesboro, Arkansas.

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Buyer(S) 2

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 3 of 14
Sector: Communications M&A 3 of 12
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 8
State: Arkansas M&A 1 of 1
Country: United States M&A 3 of 13
Year: 2019 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-19 Great Plains Communications

Blair, Nebraska, United States

Great Plains Communications is a provider of delivering high speed Internet, cable television,

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-18 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 -
DESCRIPTION

Farol Asset Management is a private equity firm that looks to match institutional investors with direct investment opportunities. The Firm seeks to commit $5 to $30 million per transaction to support a variety of transaction situations and typically works with opportunities brought to it by private equity firms, fund-less sponsors, entrepreneurs and operating executives. Farol Asset Management was formed in 2011 and is headquartered in New York City.


DEAL STATS #
Overall 13 of 23
Sector: Communications M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 9
State: Arkansas M&A 1 of 1
Country: United States M&A 12 of 21
Year: 2019 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-17 AIM Aerospace

Renton, Washington, United States

AIM Aerospace, Inc. is a designer and producer of advanced composite structures, systems, engine components and thermoplastic technology for the global aerospace industry. AIM Aerospace, Inc. was founded in 1988 and is based in Renton, Washington.

Sell $510M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-29 Ever.Ag

Lewisville, Texas, United States

Ever.Ag is a pioneering provider of market intelligence and software-as-a-service (SaaS) solutions. Ever.Ag offers a wide range of innovative agtech solutions that empower agriculture, food and beverage supply chains to feed a growing world. Ever.Ag was founded in 2000 and is based in Lewisville, Texas.

Buy -