M&A Deal Summary

Stephens Capital Partners, TPO, GTCR and Cable ONE Acquire Clearwave Fiber

On January 4, 2022, private equity firm Stephens Capital Partners, family office TPO, private equity firm GTCR and Cable ONE acquired communications company Clearwave Fiber

Acquisition Highlights
  • This is Stephens Capital Partners’ 6th, TPO’s 3rd, GTCR’s 12th and Cable ONE’s 6th transaction in the Communications sector.
  • This is Stephens Capital Partners’ 69th, TPO’s 10th, GTCR’s 122nd and Cable ONE’s 6th transaction in the United States.
  • This is Stephens Capital Partners’ 4th, TPO’s 2nd, GTCR’s 8th and Cable ONE’s 1st transaction in Georgia.

M&A Deal Summary

Date 2022-01-04
Target Clearwave Fiber
Sector Communications
Buyer(s) Stephens Capital Partners
TPO
GTCR
Cable ONE
Deal Type Joint Venture

Target

Clearwave Fiber

Savannah, Georgia, United States
Clearwave Fiber is a rural broadband provider serving communities in Illinois, Florida, Alabama, Georgia and South Carolina. Clearwave Fiber was founded in 2022 and is based in Savannah, Georgia.

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Buyer(S) 4

Buyer
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.


DEAL STATS #
Overall 73 of 77
Sector (Communications) 6 of 6
Type (Joint Venture) 1 of 1
State (Georgia) 4 of 4
Country (United States) 69 of 71
Year (2022) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 TriGeo Energy

Addison, Texas, United States

TriGeo Energy is an operator of approximately 50 oil wells in the East Permian on about 10,000 net acres. TriGeo Energy is based in Addison, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-24 Delta Research

Livonia, Michigan, United States

Delta Research is a designer and manufacturer of high-performance gears in aerospace engine components and electric vehicle transmissions. Delta Research was founded in 1952 and is based in Livonia, Michigan.

Buy -
DESCRIPTION


DEAL STATS #
Overall 10 of 11
Sector (Communications) 3 of 3
Type (Joint Venture) 1 of 1
State (Georgia) 2 of 2
Country (United States) 10 of 11
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-09 Crown Health Care Laundry Services

Pensacola, Florida, United States

Crown Health Care Laundry Services is a provider of healthcare linen management solutions and products across the Southeast. Crown provides laundering, packaging, delivery and additional value-added services to healthcare facilities. Crown is based in Pensacola, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 Epic Staffing Group

El Segundo, California, United States

Epic Staffing Group is a provider of outsourced employment to the biopharmaceutical and healthcare industries. Epic Staffing Group verticals include life sciences recruitment process outsourcing, life sciences consulting, travel nurse jobs, Interim executive placement, travel allied, school special education jobs, therapy and perfusionists, government healthcare staffing, and international clinician placement. Epic Staffing Group is based in El Segundo, California.

Buy -
Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 126 of 143
Sector (Communications) 12 of 13
Type (Joint Venture) 1 of 1
State (Georgia) 8 of 8
Country (United States) 122 of 138
Year (2022) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 R&T Deposit Solutions

New York, New York, United States

R&T Deposit Solutions provides deposit and liquidity solutions to financial intermediaries around the country. R&T offers a wide range of tech-enabled services to help banks, credit unions, broker-dealers, trust companies, and wealth managers meet their unique cash sweep, deposit funding, and securities-based lending needs. R&T Deposit Solutions was founded in 1974 and is headquartered in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Experity

Machesney Park, Illinois, United States

Experity provides SaaS software solutions and technology-enabled services for the urgent care industry. The Company provides electronic medical records, practice management, patient engagement software, revenue cycle management solutions, and outsourced teleradiology services to over 5,700 urgent care clinics in the U.S. Experity was formed in 2019 and is based in Machesney Park, Illinois.

Buy -
Buyer

Cable ONE

Phoenix, Arizona, United States

Category Company
Founded 1983
Sector Internet Software and Services
DESCRIPTION

Cable ONE, Inc., provides high-speed Internet, cable television and telephone services.


DEAL STATS #
Overall 6 of 6
Sector (Communications) 6 of 6
Type (Joint Venture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 6 of 6
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-15 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 $2.2B