WaveDivision, Pritzker and Stephens Strike Deal for Trive-backed EarthLink

✦ Meridian Analysis

WaveDivision, Pritzker, and Stephens have reached an agreement to acquire EarthLink, a company backed by Trive Capital. Atlanta-based EarthLink serves more than 500,000 internet and managed services customers and can offer fiber internet to more than 68 million homes. For a deal of this nature involving a telecommunications and internet service provider, deal professionals typically focus on the footprint of the fiber network, customer acquisition and churn metrics, and the debt structure required to fund infrastructure expansion. The financial sponsors and buyers involved in the transaction have not had their specific investment vehicles or equity stakes disclosed in the sources. Financial terms, including the purchase price, valuation multiples, and the composition of any associated financing package, have not been disclosed. Neither the advisers advising the parties nor the expected closing timetable or required regulatory approvals have been made public.

Additional sources: PE Hub

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