Sale Could Be First Of Many For Private Equity-Backed Firm
Rural Broadband Investments, a new player in the cable space backed by private equity group GTCR, made the first of what it hopes are many small cable buys with its deal to acquire New Wave Communications, a rural MSO owned by Pamlico Capital.
Terms of the deal were not disclosed, but people in the cable financial community said New Wave, with about 90,000 customers in Illinois, Indiana, Missouri and Arkansas, is estimated to be worth about $300 million.