M&A Deal Summary

Wren House Infrastructure Acquires i3 Broadband

On September 14, 2020, infrastructure investor Wren House Infrastructure acquired communications company i3 Broadband from Seaport Capital

Acquisition Highlights
  • This is Wren House Infrastructure’s 1st transaction in the Communications sector.
  • This is Wren House Infrastructure’s 1st transaction in the United States.
  • This is Wren House Infrastructure’s 1st transaction in Illinois.

M&A Deal Summary

Date 2020-09-14
Target i3 Broadband
Sector Communications
Buyer(s) Wren House Infrastructure
Sellers(s) Seaport Capital
Deal Type Secondary Buyout
Advisor(s) Lazard Middle Market (Financial)
Thompson Coburn (Legal)

Target

i3 Broadband

Peoria, Illinois, United States
i3 Broadband provides all-fiber-to-the-premises triple-play services to both residential and commercial customers in Central Illinois. i3 Broadband is based in Peoria, Illinois.

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Buyer(S) 1

DESCRIPTION

Wren House Infrastructure is an infrastructure focused private investment firm and subsidiary of sovereign wealth fund the Kuwait Investment Authority. The Firm targets investments across the core and core plus infrastructure sectors which includes transport, energy, utilities, telecoms, healthcare, agriculture and social infrastructure. Wren House Infrastructure was formed in 2013 and is headquartered in London.


DEAL STATS #
Overall 8 of 14
Sector (Communications) 1 of 2
Type (Secondary Buyout) 3 of 7
State (Illinois) 1 of 1
Country (United States) 1 of 4
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 North Sea Midstream Partners

Aberdeen, United Kingdom

North Sea Midstream Partners owns the Teesside Gas Processing Plant, which processes natural gas from the Central North Sea and Southern Gas Basin, as well as the FUKA and SIRGE offshore pipelines and St Fergus Gas Terminal, which transport and process production from the Northern North Sea and West of Shetlands. North Sea Midstream Partners is based in Aberdeen, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-30 Almaviva Sante

Puyrucard, France

Almaviva Sante is a provider of healthcare services to regional centers of expertise (e.g. orthopedics, ophthalmology, cardiology, dialysis). Almaviva was founded in 2007 and is based in Puyrucard, France.

Buy -

Seller(S) 1

SELLER

Seaport Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

Seaport Capital is a private equity firm that targets equity and mezzanine investments in private middle-market companies. Funds are generally used to support late-stage growth opportunities, as well as buyouts and recapitalizations. Seaport prefers businesses with high margins and recurring revenues. Sectors of interest include marketing services, publishing, media, communications, business services, education, software, cable, and information services. Seaport seeks private companies valued between $25 and $150 million and looks to commit up to $40 million of equity per transaction. Seaport requires board representation and typically holds investments for three to seven years. Seaport Capital was formed in 1997 and is based in New York City.


DEAL STATS #
Overall 25 of 31
Sector (Communications) 8 of 8
Type (Secondary Buyout) 5 of 5
State (Illinois) 1 of 1
Country (United States) 23 of 29
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-13 Linen King

Tulsa, Oklahoma, United States

Linen King is a provider of outsourced healthcare laundry services to hospitals and healthcare facilities across the mid-South US. Linen King was established in 1999 and is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Exacom

Manchester, New Hampshire, United States

Exacom provides multimedia (analog, RoIP, VoIP, text /SMS, and screen capture) logging/recording solutions to public safety, government, utility, healthcare and other target markets. Exacom was founded in 1986 and is based in Manchester, New Hampshire.

Buy -