Tahoe Network Infrastructure LLC has acquired E-Vergent for $11.2 million, reported Telecom Ramblings. Tahoe, a fiber optic broadband investment company in Washington, purchased the Wisconsin-based regional fiber and fixed wireless provider that delivers service with more than 100 towers, serving communities south of Milwaukee, WI and north of Chicago, IL. Concentra Capital Group acted as the exclusive financial advisor to Tahoe and arranged $6.5 million of senior debt to finance the acquisition.
“This acquisition perfectly complements our strategy to acquire small, fiber-based internet service providers in underserved markets,” said Gregory Green, Chairman of Tahoe. “E-Vergent has over 25 years of operating history providing fiber and cutting edge fixed wireless technology to over 1 million residential and commercial subscribers in ten counties.”
Green added that E-Vergent has increased service speeds “in each of the last four years.” He noted that Tahoe plans to invest another $10 million to expand E-Vergent’s regional footprint. “Tahoe will continue to look for acquisitions in the fiber space, including partnering with rural electric utilities and cities looking for a financially sound broadband partner,” Green concluded.
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