Rural Broadband Investments said it has closed the acquisition of McDonald Cable, an affiliate of the McDonald Group, with about 9,000 subscribers in Southeast Texas. Terms of the deal were not disclosed.
RBI now has about 130,000 customers and passes more than 400,000 homes in Illinois, Indiana, Missouri, Arkansas, Louisiana, Mississippi, Texas and Nevada.
“McDonald is an excellent add-on to our Southeast Texas footprint," said Rural Broadband Phil Spencer in a statement. "We intend to upgrade these systems to DOCSIS 3.0, which will allow us to offer faster and more reliable internet service.”
Kirkland & Ellis LLP served as legal counsel and PriceWaterhouseCoopers served as accounting advisor to GTCR. RBC Capital Markets acted as exclusive financial advisor to RBI and GTCR.