Blair, Nebraska, May 15, 2019 (GLOBE NEWSWIRE) -- Great Plains Communications, the largest privately-owned telecommunications provider in Nebraska and a Grain Management portfolio company, announced today that it has entered into a definitive agreement to acquire InterCarrier Networks, a regional fiber optic carrier with a high-capacity network spanning Illinois, Indiana, the St. Louis metro area in Missouri, and Kentucky.
Headquartered in St. Louis, Missouri, InterCarrier Networks provides critical bandwidth infrastructure solutions to telecommunications carriers and major enterprises in Midwestern markets where cost-effective bandwidth transport has traditionally been difficult to obtain. Its services are delivered over a high-quality, ring-structured fiber-optic network covering 2,037 route miles.
“This is a powerful pairing of Great Plains Communications’ broad network and century-long experience with InterCarrier Networks’ footprint, team and client base,” said Todd Foje, CEO of Great Plains Communications. “With backing from Grain, who sourced and negotiated this deal, our combined businesses are well positioned for near-term organic growth opportunities and future strategic expansion.”
“This acquisition illustrates Grain’s differentiated ability to source unique market opportunities and apply our analytical, data-driven approach to value creation,” said Chad Crank, Managing Director at Grain. “By acquiring InterCarrier Networks, Great Plains Communications continues to scale, bringing the combined fiber network to over 11,500 route miles with enhanced capability to service wholesale, fiber-to-the-tower and enterprise customers. We are excited to continue our support of Todd Foje and Great Plains Communications’ management team as they expand their service area and accelerate growth.”
The transaction is expected to close in the third quarter of 2019 following customary regulatory approvals. Financial terms of the transaction were not disclosed.
About Great Plains Communications
Great Plains Communications is the largest privately-owned telecommunications provider in Nebraska, delivering high-speed Internet, cable television, and voice services to over 90 communities across the state. The company also prides itself on their progressive approach to accommodating the unique needs of all regional and national telecommunications carriers, LECs, ISPs, wireless carriers and other service providers utilizing superior engineering and custom build strategies. At the core of its service offering is an extensive 9,500-mile regional fiber network including over 400 fiber miles in the Omaha Metro area. The network extends beyond Nebraska into Colorado, Illinois, Iowa, Kansas, Minnesota, South Dakota, and Wyoming offering community access rings, last-mile, and middle-mile solutions, all fully supported by their 24x7x365 Network Operations Center. For more information visit www.gpcom.com.
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 www.graingp.com.
About InterCarrier Networks
Founded in November of 2009, with headquarters in St. Louis, MO, InterCarrier Networks is a regional fiber optic carrier operating a high-capacity fiber-optic network spanning Indiana and Illinois. Since its founding InterCarrier’s core mission has been to provide high-capacity fiber-optic bandwidth transport capacity to smaller and underserved markets in Illinois and Indiana. Its network transports bandwidth between smaller markets and major telecommunications hubs in Chicago, St. Louis and Indianapolis. InterCarrier Networks operates as a carrier's carrier, providing high-capacity bandwidth transport to the nation’s largest telecommunications carriers. For more information visit www.intercarriernetworks.com.
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