Grain Management, LLC, a leading Washington, D.C.-based investor focused on the global communications sector, announced today that it has completed the acquisition of a majority interest in Summit Vista, Inc., dba Summit Broadband, from Cable Bahamas Ltd. Terms of the deal, originally announced on August 19, 2019, were not disclosed.
Summit Broadband is a fiber-optic telecommunications provider that serves business and residential customers in central and southwest Florida. Its products include voice, video, data and high-speed internet services, as well as Ethernet and dark-fiber transport.
TD Securities served as financial advisor to Grain in the transaction, Alston & Bird LLP served as legal counsel, and the Direct Lending team at Deutsche Bank provided committed debt financing for the transaction.
About Summit Broadband
Summit Broadband is a leading fiber-optic telecommunications provider in Central and Southwest Florida. The company provides voice, video, data and high-speed internet services to residential and commercial customers, as well as Ethernet and dark-fiber transport to enterprise and carrier customers. Providing a superior customer service experience since 1994, Summit Broadband owns and operates its own fiber-optic network, with a reach of more than 1,800 fiber route miles, serving multiple industries and communities throughout its territory. For more information visit summit-broadband.com.
About Grain Management, LLC
Grain Management, LLC is a leading investor focused on investments in the global communications sector. The firm was founded in 2007 with the objective of bringing a differentiated approach to the industry characterized by expansive sector knowledge, rigorous analytics, and dedicated, in-house operating and financial professionals. Grain is directed by a team of highly experienced investment professionals with deep industry knowledge and a specialized skill set, marked by extensive operating history, quantitative and analytical proficiency, and regulatory expertise. For more information visit graingp.com.
