Grain Management LLC has agreed to acquire a majority interest in Oregon-based Hunter Communications Inc, an owner and operator of a fiber optic network. No financial terms were disclosed. Bank Street Group LLC served as financial adviser to Hunter Communications on the deal.
MEDFORD, Ore., Aug. 20, 2019 /PRNewswire/ — Grain Management, LLC, (“Grain”) a leading Washington, D.C.-based private equity firm focused on the global communications sector, announced today that it has signed a definitive agreement to acquire a majority interest in Hunter Communications, Inc. (“Hunter”). As owner and operator of one of the largest private fiber optic networks in Oregon, Hunter provides high bandwidth data and voice service to businesses and homes throughout southern Oregon and parts of northern California.
“Through this investment, Grain is committed to supporting the strategic development of Hunter and its high quality, 2,011-mile fiber network,” said Michael McKenzie, Managing Director at Grain. “Our value creation strategy will focus on partnering with Hunter’s highly-skilled management team to densify and expand Hunter’s footprint and advance its position as a leading regional connectivity provider.”
Hunter Communications Founder and CEO Richard Ryan said: “Hunter Communications is ideally positioned to further penetrate a growing fiber market with the backing of our new partners at Grain, who bring decades of communications industry expertise. This partnership is proof of the progress the Hunter team has made, establishing itself as an industry leader, servicing our customers for over 25 years. Our team is looking forward to the further expansion of our network as we continually improve the quality of our customer experience.”
The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2020. Financial terms were not disclosed.
Bank Street Group LLC served as exclusive financial advisor and Perkins Coie LLP served as legal adviser to Hunter Communications in connection with the transaction. CoBank ACB is acting as sole financing arranger and Alston & Bird LLP served as legal counsel to Grain.
About Grain Management
Grain Management, LLC is a leading private equity firm 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.
About Hunter Communications
Hunter Communications, Inc. an Oregon based Telecommunications Company was founded in 1992, providing service for local area networks, wide area networks, and everything in between. In 2000 Hunter started building an all-fiber network throughout Medford with the vision of a Metropolitan Area Network (MAN) throughout rural Southern Oregon, Southeastern Oregon and Northern California. Hunter now owns the largest privately held fiber optic network in the State of Oregon, and has expanded to provide advanced technical support and engineering solutions with the intent of becoming a sole source provider, capable of handling any telecommunications or networking need. Learn more at hunterfiber.com.