Add-on Acquisition • Communications

IQ Fiber Acquires ThinkBig Networks

On November 22, 2024, IQ Fiber acquired communications company ThinkBig Networks from Patriot Capital

Acquisition Context
  • This is IQ Fiber’s 1st transaction in the Communications sector.
  • This is IQ Fiber’s 1st transaction in the United States.
  • This is IQ Fiber’s 1st transaction in Maryland.

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M&A Deal Summary

Date November 22, 2024
Target ThinkBig Networks
Sector Communications
Buyer(s) IQ Fiber
Sellers(s) Patriot Capital
Deal Type Add-on Acquisition

Target Company

ThinkBig Networks

Chestertown, Maryland, United States
ThinkBig Networks is a FTTP (fiber-to-the-premises) internet service provider deploying a state-of-the-art broadband network, for residential and commercial customers, in four counties across the state of Maryland: Harford County, Kent County, Queen Anne’s County and Charles County. ThinkBig Networks was founded in 2016 and is based in Chestertown, Maryland.
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Buyer Overview 1

Buyer

IQ Fiber

Jacksonville, Florida, United States

Category Company
Founded 2021
Sector Communications
DESCRIPTION

IQ Fiber is a fiber-optic internet service provider that transforms the residential broadband market by offering a 100% fiber-optic network; stress-free plans with no data caps, contracts or hidden fees; and live, local experts to solve any problem that may arise. IQ Fiber was founded in 2021 and is based in Jacksonville, Florida.


Deal Context for Buyer #
Overall 1 of 1
Sector: Communications 1 of 1
Type: Add-on Acquisition 1 of 1
State: Maryland 1 of 1
Country: United States 1 of 1
Year: 2024 1 of 1

Seller Profile 1

SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


Deal Context for Seller #
Overall 52 of 55
Sector: Communications 5 of 5
Type: Add-on Acquisition 30 of 32
State: Maryland 7 of 7
Country: United States 52 of 55
Year: 2024 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-13 Pure Wafer

San Jose, California, United States

Pure Wafer is a provider of silicon wafer reclaim services and supplies virgin silicon wafers, specialty thin film deposition products, and silicon parts services. Pure Wafer was founded in 2008 and is based in San Jose, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-21 Chandler Industries

Blaine, Minnesota, United States

Chandler Industries is a manufacturer of precision-machined components, fabrications, complex assemblies and weldments for quality-minded. Chandler Industries was established in 1962 and is based in Blaine, Minnesota.

Sell -