There was a bit of interesting network M&A out in the Midwest this morning. Washington-based Tahoe Network Infrastructure has announced the acquisition of the Midwestern fiber and fixed wireless provider E-Vergent.
E-Vergent serves both business and residential customers across swaths of both southeastern Wisconsin and northwestern Illinois. They leverage 100 towers to deliver fixed wireless connectivity to over 1M subscribers across 10 counties between Milwaukee and Chicago. Tahoe has committed some $10M to expanding that footprint.
Tahoeni was founded a year or so ago by Greg Green, who formerly co-founded and led Fatbeam, an e-Rate focused provider in the Pacific Northwest that is now majority owned by SDC Capital Partners. The company declared its intent to take on similar projects in the Midwest, possibly working with rural electric utilities and other partners. The acquisition of E-Vergent will certainly accelerate those plans, giving Tahoe an operating platform and customer base to expand upon.
The deal cost Tahoe some $11.2M, which they financed via $6.5M in senior debt, a seller note, and equity. Concentra Capital Group acted as exclusive financial advisor to Tahoe to make the deal happen. Tahoe will continue to look for similar M&A opportunities.
If you haven't already, please take our Reader Survey! Just 3 questions to help us better understand who is reading Telecom Ramblings so we can serve you better!Categories: Mergers and Acquisitions · Metro fiber · Wireless
Discuss this Post