GTCR and Mega Broadband Investments Complete Acquisition of Northland Communications

Leaders Strategy Investment to Support Growth of Rural Broadband Provider

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Oct 02, 2018, 08:00 ET

CHICAGO, Oct. 2, 2018 /PRNewswire/ -- GTCR, a leading private equity firm, announced today that it has completed its previously announced acquisition of Northland Communications ("Northland") through GTCR's portfolio company Mega Broadband Investments LLC ("MBI"), a partnership with CEO Phil Spencer.

Founded in 1981, and headquartered in Seattle, Washington, Northland provides high-speed data ("HSD"), television, and voice services to residential and business subscribers in rural markets in the Southeast, Texas, and the Northwest.

Kirkland & Ellis LLP provided legal counsel and PricewaterhouseCoopers served as accounting advisor to GTCR. Perkins Coie LLP provided legal counsel and Lazard Middle Market LLC served as exclusive M&A advisor to Northland.

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.

About Mega Broadband Investments

Mega Broadband Investments was formed in October 2017 as a partnership between Phil Spencer and GTCR. Mega Broadband Investments' mission is to build a leading broadband provider delivering high speed data, video and voice services to residential and commercial customers. For more information, please contact (312) 953-3305.

About Northland Communications

Northland Communications is a leading provider of communications services. Northland owns and operates smaller-market cable systems in Alabama, California, Georgia, Idaho, North Carolina, South Carolina, Texas and Washington. Headquartered in Seattle, Washington, Northland offers high-speed Internet, digital and high definition television, and voice services to individuals and businesses. For more information, please visit www.yournorthland.com.

Media Inquiries
Eileen Rochford
+1 (312) 953-3305
[email protected]

SOURCE GTCR