Tahoe Network Infrastructure, a fiber broadband investment company, has acquired E-Vergent, a Wisconsin-based regional fiber and fixed wireless provider for USD 11.2 million. E-Vergent operates extensively fiber and fixed wireless networks in the communities south of Milwaukee and north of Chicago.
Gregory Greenchairman of Tahoe, said, “This acquisition perfectly complements our strategy of acquiring small, fiber-based Internet service providers in underserved markets.”
“E-Vergent has more than 25 years of business history, providing fiber and advanced fixed wireless technology to more than 1 million residential and commercial subscribers in ten counties from Milwaukee to Chicago. They deliver Internet service from more than 100 towers and have successfully increased service speeds to customers in each of the past four years.”
“We look forward to expanding the business with targeted consumer and business marketing campaigns to increase penetration of our existing fiber routes and have committed to investing an additional $10 million in expanding E-Vergent’s regional footprint. Tahoe will continue to look for fiber acquisitions, including partnering with rural and urban electric utilities looking for a financially sound broadband partner.”
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Joe Fallaschi former owner of E-Vergent stated, “Tahoe and his management team have a strong track record of founding and operating successful telecommunications companies. They have the financial capabilities and experience to take this business to the next level, and that is ultimately true it’s all about. I’m confident that Greg and his team have what it takes to provide E-Vergent with growth, opportunity and success.”
Concentra Capital Group acted as exclusive financial advisor to Tahoe and arranged USD 6.5 million in senior debt to finance the acquisition of E-Vergent.
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Joe Adipietromanaging partner of Concentra Capital, said: “It has been a pleasure to work with Tahoe on this acquisition financing. Greg and his team are world-class professionals with deep knowledge of the broadband industry and an impressive track record of success.
Greg’s vision to transform E-Vergent into a leading hybrid fiber-wireless Internet service provider is timely and compelling. I look forward to continuing this journey with Greg and his outstanding team.”
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Tahoe Network Infrastructure is a Washington-based company that specializes in building private fiber networks and acquiring wireless Internet providers with fiber development plans.
