Washington, DC — February 15, 2024 — /PRNewswire/ — Grain Management, LLC (“Grain”), a trusted solutions provider to the broadband and communications industry, announced today that it has completed its acquisition of QSH Parent Holdco LLC (“Quintillion” or the “Company”), the leading provider of fiber-based connectivity in Alaska and the North American Arctic. The acquisition brings this high-capacity broadband network provider into the Grain network of mission-critical broadband infrastructure and communications businesses.
Quintillion sells broadband connectivity, satellite ground station, and edge processing services to government and commercial telecommunication providers in the North American Arctic. In June 2023, Quintillion was awarded $89 million through the National Telecommunications and Information Administration’s Middle Mile Broadband Infrastructure Grant Program to provide redundant middle-mile backhaul capability for Alaska, creating redundancy and reliability for Alaska’s broadband network infrastructure.
“Alaska is uniquely positioned to provide geostrategic advantage in bolstering our country’s defense capabilities—which means Quintillion, under Grain’s management, will play a critical role in boosting national defense,” said George Tronsrue III, Quintillion Chief Executive Officer. “Having recently secured our latest national security agreement, the Quintillion team is thrilled about partnering with Grain to expedite closing the digital divide and accelerating the pace with which we connect more Alaskans to each other and to the rest of the world.”
“The Grain team is excited to get to work alongside the talented leadership team at Quintillion,” said Chad Crank, Managing Director at Grain. “We believe in the Company’s distinct competitive advantage and its unparalleled market position and look ahead to expanding its presence in Alaska and the North American Arctic.”
Bank Street Group LLC served as exclusive financial advisor to Quintillion and Cooper Investment Partners, and Alston & Bird LLP and Morgan, Lewis & Bockius, LLP served as legal advisors to Grain and Quintillion, respectively.
