9 November 2023.
Palisade Infrastructure (“Palisade”) has completed the acquisition of 100% of the equity interests in Mashell, Inc., the parent company of Rainier Connect (the “Transaction”).
Rainier Connect – a fibre and hybrid fibre coaxial broadband provider in Washington State which currently serves Tacoma, Eatonville, Centralia, Chehalis and Graham – also announced today that it has changed its name to Lightcurve.
Changing the name to Lightcurve represents the next chapter of the journey and marks the beginning of significant investments in the fibre optic internet infrastructure.
Over the coming months, we plan to start upgrading the current network and make investments in expansion markets across several counties including Pierce, King, Lewis, Snohomish, and Thurston.
“The Transaction represents our first step in the creation of a regional platform for fibre and high-speed broadband connectivity. We also recently announced a transaction to acquire the Washington properties of Consolidated Communications, furthering our commitment to Lightcurve as the trusted regional provider of broadband,” said Mike Reynolds, Managing Director, Americas of Palisade Infrastructure.
“For Lightcurve, having a long-term investor like Palisade Infrastructure provides the foundation to make significant investments in fibre optic networks and offer our customers and communities fast reliable internet from people they can trust,” added Anand Vadapalli, who acted as an advisor to Palisade for the transaction and is now the President & CEO of Lightcurve.
“Our commitment to the community and customers will not only continue but will be stronger than ever. There’s a huge hole in the rural and under-resourced communities that needs to be filled with broadband and we are committed to closing the digital divide. We are dedicated to helping connect as many Americans to high-speed internet as possible and create new opportunities in the communities we serve,” said Reynolds.
This represents the completion of Palisade’s second transaction this year in North America following the closing of its investment in the PureSky Energy community solar platform in June 2023 as well as the recently signed agreement to acquire Consolidated Communications, Inc.’s assets in Washington. Palisade is planning to launch a new North American diversified infrastructure fund with an initial focus on digital connectivity and energy transition in the coming months.
Houlihan Lokey acted as financial advisor and Morgan, Lewis & Bockius LLP acted as legal advisor to Palisade. Bank Street served as the exclusive financial advisor to Rainier Connect on the transaction.
For further information please contact:
Mike Reynolds
Managing Director, Americas
Palisade Infrastructure
Tel: +1 (914) 886 7452
Download the full media release here