M&A Deal Summary

Trive Capital Acquires EarthLink

On January 3, 2019, private equity firm Trive Capital acquired communications company EarthLink from Windstream

Acquisition Highlights
  • This is Trive Capital’s 1st transaction in the Communications sector.
  • This is Trive Capital’s 24th transaction in the United States.
  • This is Trive Capital’s 1st transaction in Georgia.

M&A Deal Summary

Date 2019-01-03
Target EarthLink
Sector Communications
Buyer(s) Trive Capital
Sellers(s) Windstream
Deal Type Divestiture

Target

EarthLink

Atlanta, Georgia, United States
Earthlink's headquarters in Atlanta, Georgia.
Earthlink's headquarters in Atlanta, Georgia.
EarthLink provides internet access, premium email, web hosting, and privacy and data security products and services throughout the United States. EarthLink also has key partner relationships with several of the industry’s largest providers, enabling the Company to offer products and connectivity services available to millions of households nationwide. EarthLink was formed in 1994 and is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

Trive Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


DEAL STATS #
Overall 25 of 54
Sector (Communications) 1 of 2
Type (Divestiture) 1 of 4
State (Georgia) 1 of 1
Country (United States) 24 of 51
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-26 Vitesse Systems

Newark, California, United States

Vitesse Systems is a manufacturer of complex critical components and a vertically integrated platform with complementary capabilities and expertise in brazing, machining, 3-D printing, and finishing. Vitesse Systems was founded in 2002 and is based in Newark, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 Southern Towing

Memphis, Tennessee, United States

Southern Towing Co. is a transporter of fertilizer and other products along the inland waterways of the United States. STC operates a fleet of towboats and barges to provide marine transportation services to customers in the agriculture and industrial end markets. Southern Towing Co. was founded in 1958 and is based in Memphis, Tennessee.

Sell -

Seller(S) 1

SELLER

Windstream

Little Rock, Arkansas, United States

Category Company
Founded 2006
Sector Communications
Employees11,080
Revenue 5.1B USD (2019)
DESCRIPTION
Windstream office in downtown Greenville, South Carolina.
Windstream office in downtown Greenville, South Carolina.

Windstream is a provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream was founded in 2006 and is based in Little Rock, Arkansas.


DEAL STATS #
Overall 3 of 3
Sector (Communications) 1 of 1
Type (Divestiture) 2 of 2
State (Georgia) 1 of 1
Country (United States) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-27 MASS Communications

New York, New York, United States

MASS Communications is a telecommunications network management company serves a broad range of small to mid-sized global enterprises in the financial, legal, healthcare, technology, education and government sectors.

Buy $4M