Wave Division Holdings, parent of Seattle-based cable operator Wave Broadband, said it completed its sale on Monday to Oak Hill Capital Partners, GI Partners and a group of company managers.
Wave – which has about 385,000 video, voice and data subscribers in suburban areas outside Seattle, San Francisco, Sacramento and Portland – had previously announced the deal in June. In addition to private equity funds Oak Hill and GI Partners, a group of Wave managers led by CEO Steve Weed also participated in the deal. Terms of the transaction were not disclosed.
RBC Capital Markets and Waller Capital Partners served as financial advisors to Wave on the transaction, and Deutsche Bank and Wells Fargo were financial advisors to Oak Hill Capital.