USA: GTCR, a leading private equity firm, announced it has simultaneously signed and closed the acquisition of Cable Management Associates, a subsidiary of privately held Etan Industries.
The acquisition was completed through GTCR’s previously established partnership with Rural Broadband Investments, and comes only one month after RBI’s initial platform investment in NewWave Communications. With extensive cable experience, RBI intends to invest in CMA in order to provide CMA’s customers with state of the art high-speed internet, video and voice services.
GTCR and Phil Spencer formed RBI in late 2012 for the purpose of acquiring broadband infrastructure assets in small and mid-sized communities. CMA passes approximately 120,000 homes in rural Texas, Louisiana, Mississippi and Nevada.
This is the second acquisition by RBI, which plans to build a platform of 300,000-400,000 cable subscribers in small-to-mid sized rural markets to deliver a breadth of new services to residential and commercial customers. RBI now serves over 120,000 customers and passes approximately 370,000 homes in Illinois, Indiana, Missouri, Arkansas, Louisiana, Mississippi, Texas and Nevada.