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.
