M&A Deal Summary

Weatherford Capital Management Acquires Summit Broadband

On May 6, 2020, family office Weatherford Capital Management acquired communications company Summit Broadband from Grain Management

Acquisition Highlights
  • This is Weatherford Capital Management’s 1st transaction in the Communications sector.
  • This is Weatherford Capital Management’s 1st transaction in the United States.
  • This is Weatherford Capital Management’s 1st transaction in Florida.

M&A Deal Summary
Date 2020-05-06
Target Summit Broadband
Sector Communications
Buyer(s) Weatherford Capital Management
Sellers(s) Grain Management
Deal Type Secondary Buyout

Target

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.

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Buyer(S) 1

Buyer

Weatherford Capital Management

Investor Investor Investor Investor

Category Family Office
Founded 2015
Size Small
Type Sector Agnostic
DESCRIPTION

Weatherford Capital Management is a family-backed private investment firm that looks to invest in mid-sized growth companies. The Firm looks to commit $10 to $50 million per transaction via late stage, growth capital, or recapitalizations. Weatherford will consider opportunities across the US, but has a preference for businesses operating in Texas and Florida. Weatherford Capital Management was formed in 2015 and is headquartered in Tampa, Florida.

DEAL STATS #
Overall 2 of 5
Sector (Communications) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Florida) 1 of 2
Country (United States) 1 of 4
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 CloudFactory

Reading, United Kingdom

CloudFactory engages in combining people and technology to provide a workforce in the cloud for machine learning and core business data processing. CloudFactory managed teams have experience with 150+ AI projects and can process data with high accuracy using virtually any tool. CloudFactory was founded in 2010 and is based in Reading, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Branch

Columbus, Ohio, United States

Branch provides home and auto insurance that's simple to buy and built for savings. Through its revolutionary instant-bind capability, Branch removes all of the friction associated with getting covered, helping consumers bundle their home and auto with ease. Branch is based in Columbus, Ohio.

Buy -

Seller(S) 1

SELLER

Grain Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 2.0B USD
Size Large
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 1 of 2
Sector (Communications) 1 of 2
Type (Secondary Buyout) 1 of 2
State (Florida) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-20 Hunter Communications

Central Point, Oregon, United States

Hunter Communications, Inc. is a provider of high bandwidth data and voice service to businesses and homes throughout southern Oregon and parts of northern California. Hunter Communications was founded in 1992 and is based in Central Point, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 WANRack

Lenexa, Kansas, United States

WANRack provides private fiber optic WAN solutions for K-12 school districts throughout the United States. Service offerings include E-Rate compliant lit fiber, dark fiber, and special construction solutions. WANRack was founded in 2005 and is based in Lenexa, Kansas.

Sell -
Mergr

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