GI Partners acquires broadband services provider Rise Broadband

• Barclays acted as financial advisor to Rise Broadband while Stifel acted as financial advisor to GI Partners
• GI invests in the healthcare, services, and software sectors
• Founded in 2001, GI Partners has $35 billion assets under management

GI Partners has acquired Englewood, Colorado-based Rise Broadband, a provider of broadband services across 16 states. No financial terms were disclosed.

Rise Broadband CEO Jim O’Brien and the current executive team will continue leading the company.

“Rise Broadband provides essential broadband connectivity with a focus on customers in rural America. We are excited to partner with Jim O’Brien and the Rise team to execute a multi-year, fiber-based network expansion effort,” said Brendan Scollans, managing director and co-head of GI Data Infrastructure, in a statement. “Rise’s existing network infrastructure is uniquely positioned to execute a fiber expansion effort that will provide rural communities with next generation broadband service.”

Barclays acted as financial advisor to Rise Broadband and Bryan Cave Leighton Paisner acted as legal counsel. Stifel acted as financial advisor to GI Partners and Simpson Thacher & Bartlett acted as legal counsel.

Founded in 2001, GI Partners has $35 billion assets under management. The firm invests in the healthcare, services, and software sectors.