Add-on Acquisition • Communications

Wave Broadband Acquires Digital West

On January 26, 2021, Wave Broadband acquired communications company Digital West from Farragut Capital Partners

Acquisition Context
  • This is Wave Broadband’s 9th transaction in the Communications sector.
  • This is Wave Broadband’s 12th transaction in the United States.
  • This is Wave Broadband’s 1st transaction in California.

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M&A Deal Summary

Date January 26, 2021
Target Digital West
Sector Communications
Buyer(s) Wave Broadband
Sellers(s) Farragut Capital Partners
Deal Type Add-on Acquisition

Target Company

Digital West

San Luis Obispo, California, United States
Digital West, Inc. provides fiber optic connectivity, colocation, cloud services, digital business applications, and telephony to businesses that demand high-quality products and outstanding reliability. Digital West serves commercial clients, including carriers, small businesses, and medium-to-large enterprise clients with custom infrastructure needs. Digital West was founded in 1999 and is based in San Luis Obispo, California.
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Buyer Overview 1

Buyer

Wave Broadband

Kirkland, Washington, United States

Category Company
Founded 1950
Sector Communications
DESCRIPTION

Wave Broadband LLC is a provider of industry major high-speed internet, all-digital TV and phone services for residential, small/medium and Enterprise business customers. PC Magazine’s Readers’ Choice Award named RCN one of the winners for best ISPs in 2013, 2015 and 2016 – RCN was rated highest in overall satisfaction. RCN is YouTube HD Verified, earning the company the highest-ranking that Google offers. RCN is also a Netflix Open Connect partner, placing in the Top rankings on the Netflix USA ISP Speed Index in the markets RCN serves. RCN's affordably priced advanced digital services are delivered through its proprietary, state-of-the-art fiber-rich network and supported by 100% U.S.-based customer service. RCN's primary service areas include Boston, Chicago, Lehigh Valley (PA), New York City, Philadelphia (Delaware County) and Washington, DC.


Deal Context for Buyer #
Overall 12 of 12
Sector: Communications 9 of 9
Type: Add-on Acquisition 11 of 11
State: California 1 of 1
Country: United States 12 of 12
Year: 2021 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 Cascadelink

Seattle, Washington, United States

Cascadelink is an internet service provider that delivers high-speed connectivity to residential and commercial customers in multi-unit residential and office buildings throughout the Seattle area.

Buy -

Seller Profile 1

SELLER

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


Deal Context for Seller #
Overall 22 of 25
Sector: Communications 1 of 1
Type: Add-on Acquisition 9 of 11
State: California 2 of 2
Country: United States 22 of 25
Year: 2021 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 O Donnell Metal Deck

Elkridge, Maryland, United States

O'Donnell Metal Deck is a value-added distributor of metal decking and steel bar joist primarily for the commercial construction industry. The Company serves steel fabricators, contractors, builders, and building material suppliers throughout the mid-Atlantic and nationally. O'Donnell Metal Deck was founded in 1996 and is based in Elkridge, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 BOOM! By Cindy Joseph

Nanuet, New York, United States

BOOM! By Cindy Joseph sells a growing portfolio of color cosmetics and skincare products. BOOM! offers a pared-down, easy-to-use, and fast-to-apply line of multi-purpose cosmetic products that serve as a woman’s entire makeup bag, including foundation, blush, lipstick, and more. BOOM! By Cindy Joseph was founded in 2010 and is based in Nanuet, New York.

Buy -