Grande Communications Buyout To Close Monday
Boston-based private equity firm ABRY Partners is expected to close its leveraged buyout of Grande Communications on Monday, peHUB has learned. ABRY will take around a 75% stake in Grande, a San Marcos, Texas-based broadband services provider, at an enterprise value of approximately $270 million. The remaining 25% will be held by Grande's venture capital shareholders, who have invested more than $340 million since 2000. We're told that ABRY will finance around half of the transaction with debt, which was arranged by SunTrust Bank. The new facility would wipe out $200 million of existing Grande junk bonds that date back to 2004.
11 September 2009•2 mins read
