Published On: Wed, Jul 31st, 2019

BBH Capital Partners divests Vyve Broadband assets to GTCR and MBI

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Private equity firm GTCR and Mega Broadband Investments (MBI) have acquired Oklahoma-based Vyve Broadband from BBH Capital Partners (BBHCP) for an undisclosed sum.

Vyve Broadband, which was founded in 2012, offers high-speed data, fiber connectivity, cable television and voice services to residential and business customers in eight states, including Oklahoma, Kansas, Texas, Arkansas, Louisiana, Tennessee, Georgia and Wyoming, US.

The acquisition, which comes less than a year after MBI’s initial platform investment in Northland Communications, is expected to double MBI’s rural footprint, apart from accelerating its strategy of being a scale broadband provider in rural markets.

Phil Spencer – CEO of MBI said: “The acquisition of Vyve is an exciting addition to MBI following our recent platform acquisition of Northland.

“Vyve has developed an excellent network in attractive geographies and we look forward to leveraging Vyve’s state-of-the-art infrastructure to continue to rollout enhanced high-speed data services to both our residential and commercial customers.

“Further, Vyve has an outstanding employee base, and we plan to build upon the excellent work they have done to date in efforts to continuously improve the quality of service to our customers.”

BBH Capital Partners sells Vyve Broadband assets to GTCR and MBI.

BBH Capital Partners sells Vyve Broadband assets to GTCR and MBI. Image by Free-Photos from Pixabay.

The acquisition, which forms part of GTCR’s Leaders Strategy, will be funded from GTCR Fund XII, a private equity fund raised in 2017 with $5.25 billion of limited partner capital commitments.

Phil Canfield – managing director of GTCR said: “The Vyve acquisition is an exciting opportunity to continue to build our investment in the cable industry.

“We look forward to continuing our work with Phil Spencer and his team to build a leading cable platform through increasing high-speed data penetration, growth in commercial services, and additional accretive acquisitions.”

GTCR has invested over $15 billion in more than 200 companies since its inception in 1980.

Founded in October 2017, MBI is a partnership venture between Phil Spencer and GTCR to create a broadband provider to residential and commercial customers.

GTCR’s Leaders Strategy finds and partners with management leaders in core domains to identify, acquire and create market-leading firms through organic growth and transformational acquisitions.

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