Searchlight-Led Investor Group Acquires Frontier's Northwest Operations to Form Ziply Fiber
May 1, 2020
A Searchlight Capital Partners-led investor group, together with WaveDivision Capital (WDC), PSP Investments, BCI and CPP Investments, completed the $1.352 billion acquisition of Frontier Communications' Northwest operations and assets and committed an additional $500 million for network and service improvements to form Ziply Fiber. The new company, headquartered in Kirkland, Washington, will focus on upgrading the region to predominantly all-fiber service for roughly 500,000 residential and business subscribers across Washington, Oregon, Idaho and Montana.
- Buyers
- Searchlight Capital Partners, L.P., WaveDivision Capital, LLC (WDC), Public Sector Pension Investment Board (PSP Investments), British Columbia Investment Management Corporation (BCI), Canada Pension Plan Investment Board (CPP Investments)
- Targets
- Frontier Communications (Northwest operations and assets)
- Sellers
- Frontier Communications
- Industry
- Telecommunications
- Location
- Washington, United States
- Transaction Type
- Divestiture
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