Stonepeak recently closed on the previously announced $8.1 billion acquisition of Astound Broadband.
Astound, the sixth largest U.S. cable operator in the United States, operates a handful of regional companies, including enTouch Systems, Grande Communications, RCN and Wave Broadband. Astound’s subsidiaries provide services in eight of the top ten largest metro areas throughout the country, with more than 23,000 miles of fiber providing services to 1 million customers.
The $30 billion Stonepeak portfolio includes data center, fiber, residential broadband, small cell and tower assets across the Americas, Asia and Europe, including the Astound assets.
In the nine months since the original announcement of the planned acquisition, Astound has grown its base by acquiring WideOpenWest’s Chicago, Indiana and Maryland operations and Harris Broadband, which provides fiber to the home services across central Texas.
“Stonepeak’s experience building businesses and its commitment to helping companies grow make it the ideal partner as we continue to deliver high-performing broadband and provide exceptional service to our customers,” said Jim Holanda, CEO, in a prepared statement.
“We look forward to working together to invest in our network, continuing to enhance our product and services, and capitalize on exciting growth opportunities.”
The companies said they work together to continue the growth of the expanded Stonespeak, which will continue to seek other acquisition possibilities.
“The acquisition of Astound marks Stonepeak’s second investment in residential broadband in North America and represents the largest asset in Stonepeak’s global communications portfolio, which includes eight digital infrastructure investments to date,” said Brian McMullen, Stonespeak senior managing director.