1 August 2023.
Palisade Infrastructure (“Palisade”) and Consolidated Communications, Inc. (“Consolidated”) have entered into an agreement whereby Palisade, on behalf of its managed funds, will acquire Consolidated’s assets in Washington state. The transaction will expand Palisade Infrastructure’s fiber investments in Washington State.
The transaction includes Consolidated’s incumbent networks in Ellensburg and Yelm comprising a mixture of fiber-to-the-home and DSL technologies. Palisade intends to accelerate the build out of the fiber network in these markets, providing high speed, low latency connectivity to households and businesses.
This is Palisade’s second broadband investment in Washington State following the announcement of the transaction to acquire Rainier Connect in December 2022. Palisade aims to develop a regional platform for fiber and high-speed broadband connectivity by investing in these markets to benefit all stakeholders including employees, customers and communities.
Mike Reynolds, managing director at Palisade Infrastructure said, “We are excited to expand our fiber broadband platform in Washington State, in attractive markets that are in proximity to the Rainier Connect network. We look forward to continuing to grow the platform in future.”
This represents Palisade’s fourth transaction in North America and follows the closing of its investment in the PureSky Energy community solar platform in June 2023. Palisade is planning to launch a new fund focused on investing in digital connectivity and the energy transition later this year.
Houlihan Lokey served as exclusive financial advisor and Morgan, Lewis & Bockius LLP served as legal counsel to Palisade. Lazard served as the exclusive financial advisor to Consolidated Communications on the transaction.
The transaction remains subject to federal, state and local regulatory approvals and customary closing conditions.
For further information please contact:
Mike Reynolds
Managing Director, Americas
Palisade Infrastructure
Tel: +1 (914) 886 7452
Download the full Media Release here