Carlyle to Acquire, Expand Data Center Company Involta

Global investment firm Carlyle announced that funds managed by Carlyle have agreed to acquire Involta, a data center company focused on hybrid IT and cloud infrastructure, including data center colocation, hybrid cloud, edge, fiber, and related products.

Carlyle will acquire Involta from M/C Partners. The transaction is expected to close in the first quarter of 2022 and is subject to the satisfaction of customary closing conditions. Financial details were not disclosed.

Involta owns and operates 12 data center facilities and an in-house 12,000+ fiber-mile network. These assets, paired with strategic infrastructure services, provide mission-critical IT solutions to businesses across the United States. Carlyle's capital, resources, and expertise will help expand Involta's operations, which today are located primarily in the Midwest as well as the Pacific Northwest and Southwestern U.S., helping grow its capabilities for both new and existing customers.

Joshua Pang, Head of Digital Infrastructure for Carlyle's Infrastructure Group, said, "Involta has built a world-class platform with a demonstrated operating model for delivering high-quality service to customers in an increasingly complex, hybrid cloud-based world. We see significant opportunity for growth given the long-term secular demand drivers of data proliferation, digital connectivity, and the digitization of enterprise and institutional operating models. We look forward to a strong, long-term partnership and to leveraging Carlyle's scale, resources, and access to capital to drive sustainable growth at Involta."

Pooja Goyal, Chief Investment Officer of Carlyle's Infrastructure Group, said, "This investment is consistent with our strategy of partnering with best-in-class businesses positioned for continued growth in the digital infrastructure space. Digital infrastructure is a key sector focus for our platform and we will continue to grow our portfolio with both high growth opportunities as well as stabilized assets."

Bruce Lehrman, Founder and CEO of Involta, said, "We are thrilled to work with Carlyle's proven investment team as we build on our national market leadership and support our customers' growing digital infrastructure requirements. We see many logical opportunities to continue expanding Involta's footprint and infrastructure, and look forward to leveraging Carlyle's global resources and deep expertise to further accelerate our growth momentum."

This transaction supports Carlyle's growth in infrastructure investing, which includes investments in infrastructure companies supporting the digital economy. Earlier this year, Carlyle acquired Wyyerd Group, a leading regional fiber-to-home platform in the Southwestern United States, and recently completed an add-on fiber acquisition for that platform in December 2021.

Great Plains Communications Completes Acquisition of USA Communications

Great Plains Communications (GPC), a Midwestern telecommunications provider with a growing, privately-owned 13,500+ mile fiber network touching 13 states, backed by Grain Management, LLC (Grain), announced today that it has completed the acquisition of USA Communications, a growth-oriented provider headquartered in Kearney, Nebraska.

“We are excited to announce the acquisition of this impressive company founded by Chris Hilliard that has been focused on growth and technology advancement in the communities it serves since 1995,” said Todd Foje, CEO of Great Plains Communications. “The USA Communications fiber footprint is a positive addition to our current network and will allow us to reach more business and residential customers in thriving areas of Nebraska and Colorado. In addition, we will work with our partners at Grain Management to identify future areas for targeted GPC expansion that result from these new fiber assets as we continue on our path of growth to bring fiber-driven services to as many areas as possible and to contribute to the nation’s fiber-for-all initiatives.” 

USA Communications was founded by Hilliard to meet the growing demand for fiber in central Nebraska and Colorado. The company provides fiber-driven services including managed Ethernet, high-speed internet, streaming video and voice to its residential and business customer base. With the acquisition now closed, GPC will initially focus on enhancing and building out the USA Communications network to bring fiber-driven services to more businesses and homes in Kearney, Grand Island and other Nebraska communities.

Mr. Hilliard, CEO of USA Communications had this to say: “As with any family, there are stages in life where, with great excitement, inner nervousness and perhaps even a little fear we must take a step to continue to grow. It is time for me to hand off the baton to our industry leading teammates at Great Plains Communications. I am excited and confident that they will extend USA’s current market leading role in all its communities. Godspeed!”

“We are delighted to welcome USA Communications to the Great Plains Communications family,” said Chad Crank, Managing Director at Grain. “With this extended fiber footprint, we look forward to driving and accelerating GPC’s growth and innovation in fiber services and quality.”

The companies entered into a definitive agreement in the third quarter of 2021. The acquisition was officially completed on September 30 following the completion of all regulatory approvals. Financial terms of the transaction have not been disclosed.

Boston Omaha Corporation Launches Internet Service Provider Fiber Fast Homes, LLC

Boston Omaha Corporation announces the launch of its internet service provider subsidiary, Fiber Fast Homes. Scott Sampson has been appointed as CEO.

“Reliable high-speed internet is critical to daily life. It’s simple - consumers want a solid network and accessible support,” said Mr. Sampson. “Fiber Fast Homes delivers a far superior alternative to traditional providers – all in terms of customer focus, network quality, and dependability. At the end of the day, we strive to put the service back into customer service.”

In partnership with builders and developers, Fiber Fast Homes provides Fiber-to-the-Home Internet service directly to homes at Gig speeds. This enables the consumers to engage remote learning, work and other applications that require high bandwidth, low latency connectivity.

Fiber Fast Homes Concierge team will directly assist every resident with personal one-on-one assistance. The Concierge will help with understanding the service, Wi-Fi configurations and navigating the massive streaming TV services. The homeowner will be walked through a comprehensive screening to determine the best streaming service to fit their personal and family needs, to work on whatever devices they use, Roku. Fire Stick, Apple TV, or any other device.

Fiber Fast Homes, LLC (“Fiber Fast Homes”) represents Boston Omaha Corporation’s commitment to delivering reliable high-speed fiber internet and white glove service directly to residents. 

• What they do: Fiber Fast Homes partners with builders, developers, and built-to-rent communities to build fiber-to-the-home infrastructure and provide fiber internet service to residents.

• Why it matters: Today’s new home buyers demand fast internet service to keep up with their home office, smart home, and entertainment needs. Fiber Fast Homes provides best in class technology paired with white-glove service, starting with infrastructure build through everyday customer support. Additionally, customer service and support are managed from move-in through move-out with white-glove concierge services.

• Who they serve: For builders and developers who are interested in offering fiber internet service under their own brand name, Fiber Fast Homes offers white label opportunities.

About Boston Omaha Corporation

Boston Omaha Corporation is a public holding company with three majority owned businesses engaged in outdoor advertising, surety insurance and broadband telecommunications services. The Company also maintains minority investments in a bank, a national residential homebuilder, commercial real estate services businesses and Yellowstone Acquisition Company.

About Fiber Fast Homes

Fiber Fast Homes is a fiber-to-the-home internet service company that serves new home communities and built-to-rent communities with fiber internet services at Gig speeds. The company is led by CEO Scott Sampson, a seasoned telecom professional.

Moorgate Completes Sale of Telescope to Bally’s

Moorgate Capital Partners, LLC (“Moorgate”), a middle market merchant bank focused on the technology, media, and communications industries, is pleased to announce the sale of one of its portfolio companies, Telescope Inc., the leading provider of real-time fan engagement solutions for live events, gamified second screen experiences and interactive livestreams, to Bally’s Corporation.

Telescope’s first-in-class products and services will amplify the Bally’s Interactive, Bally Bet and Bally Sports brands, enabling viewers and players to have an integrated experience that allows them to engage on a multitude of platforms and channels, including online and offline. By delivering customized and interactive content, as well as deeply engaging social experiences, Telescope will connect with Bally’s customers in innovative ways, providing opportunities for Bally’s to attract a younger demographic and augment its loyal customer base. In addition, Telescope provides industry-leading voting solutions via social, online and SMS; sweepstakes, and contests to rewards fans; content creation services; live streaming with custom graphics for all mediums; and campaign management tools that optimize audience engagement.

Adi Dhandhania, Senior Vice President of Strategy and Interactive for Bally’s Corporation, said, “We are excited to integrate Telescope and its innovative audience engagement products into Bally’s growing and diversified portfolio of interactive assets. Mobile technology continues to play an increasingly significant role and Telescope brings an expert level of creativity, innovation, and effectiveness in the social and digital media space that we are confident will enhance our customers’ interactivity and engagement with our products. We look forward to working alongside the Telescope team to not only strengthen the business, but also develop new engagement tools that we can leverage across our expanding media and digital footprint.”

“It was a pleasure to work with the team at Moorgate.  Not only did they partner with us to find our equity partner H.I.G., but they also co-invested and provided real leadership and insight while on our board,” commented Telescope Executive Chairman Jason George.

Telescope powers immersive mass-scale participation initiatives across any digital device with record-breaking results, delivering numerous 'firsts' in the industry. Telescope holds six Guinness Book of World Records, and has won 39 Shorty Awards, four Clio Awards, and a handful of Emmy nominations. Telescope was also honored to be named the 2021 Agency of the Year (Mid-Sized) by Shorty Awards.

 About Moorgate Capital Partners, LLC

Moorgate Capital Partners is an independent merchant banking and advisory firm that looks to partner with industry leading executives and management teams to source and acquire middle market growth companies in the technology, media, and communications industries.  Additionally, Moorgate provides independent, trusted advisory services and outsourced corporate development to a focused group of clients.  Moorgate has offices in San Francisco and New York City.  For more information, visit www.MoorgatePartners.com.

About Telescope Inc.

Telescope Inc. is the leading provider of real-time fan engagement solutions for live events, gamified second screen experiences and interactive livestreams. Backed by over 19 years of experience and unique expertise, Telescope is trusted by the world’s largest entertainment and sports media properties, social platforms, and leading Fortune 500 brands. The company recognizes clients’ distinct needs and pairs them with the best solution via a wide range of products and capabilities, to ensure that they connect to their audiences in innovative ways by delivering relevant, interactive content and deeply engaging social experiences. For more information, visit www.telescope.tv.

Bank Street serves as financial advisor to KKR in connection with its recent agreement with Telefónica Colombia

Bank Street was pleased to highlight its role as financial advisor to KKR in connection with its agreement with Telefónica Colombia to establish Colombia’s first independent nationwide open access wholesale digital infrastructure company in a transaction valued at approximately $500 million. With the investment from KKR, the new company plans to expand existing fiber optic coverage from approximately 1.2 million homes today to at least 4.3 million homes by the end of 2024, covering at least 87 municipal areas in Colombia with more than half consisting of underserved areas outside of high-income urban areas.

“We are thrilled to, once again, be working with Telefónica to provide greater broadband access to those who need it, and to be doing so in Colombia, a country we believe is primed for significant growth ahead and which serves as an attractive destination for investors," commented Waldemar Szlezak, Managing Director on KKR’s Infrastructure investment team. "This new venture in Colombia, along with ON*NET Fibra de Chile, demonstrates the potential to invest in innovative financing and growth strategies to promote digital infrastructure in Latin America.”

KKR will acquire a majority stake in Telefónica Columbia's fiber optic network and make the network open access through a newly established independent entity, KKR will control as the majority shareholder. Telefónica will be a minority shareholder in the new company with a 40% stake. The company will be run independently by a local team in Colombia but brings together the expertise of both KKR and Telefónica to build and operate Colombia’s premier digital infrastructure network. Recently, the companies similarly joined efforts to establish ON*NET Fibra as Chile’s first open access wholesale fiber optic network.

Bank Street provides insightful and objective advice to help its corporate and institutional clients achieve their financial and strategic goals. They are a private investment banking firm primarily serving growth companies in the communications, media and technology sectors with a comprehensive array of services, including Merger & Acquisition Advisory, Debt and Equity Capital Markets, and Restructuring Solutions. For further information on this transaction or about Bank Street, please visit www.bankstreet.com.

M/C Partners Announces Significant Growth Capital Investment in Everywhere Wireless

M/C’s investment will accelerate Everywhere Wireless’ next stage of growth and innovation, as it continues to take market share from Comcast, AT&T and the other Chicagoland incumbents.

BOSTON, MA July 14, 2021 - A Boston-based communications and technology focused private equity firm announced an investment in Everywhere Wireless, one of the largest private Internet Service Providers to multi-family and commercial clients in Chicago and its suburbs. The company provides Internet connectivity to over 60,000 active users and nearly 800 buildings, including some of the most iconic properties in Chicago.

“The company’s unrelenting focus on customer experience and network quality is best in class in Chicago, and we believe Everywhere Wireless’ continued success will change the competitive landscape in the region.”

“We’ve grown significantly over the past few years and adding M/C as our partner will bolster this growth while ensuring every customer continues to have an exceptional experience as we continue to scale,” said Keegan Bonebrake, Founder and CEO. Bonebrake added, “We are excited for this next chapter of Everywhere Wireless as this capital will allow us to pursue additional growth opportunities including regional expansion, expanded product offerings and potential acquisitions. With the support and experience that M/C brings to the table, we will have the opportunity to change the way even more people experience and interact with their Internet Service Provider. We are thankful to our incredible Chicago-based team and the consistent support we have received from devoted development partners, property managers, and customers.”

Everywhere Wireless is aggressively expanding into new markets. The company recently expanded into several Chicago suburbs, including Naperville, Schaumburg, Arlington Heights, Elmhurst, Oak Park, Evanston, Itasca, among others. “The M/C investment will allow us to increase hiring and further invest in our network and products, to continue to improve the overall consumer experience,” Bonebrake said.

Ryan Carr, Partner at M/C Partners commented, “The investment in Everywhere Wireless is an exciting partnership with one of the fastest growing and highest rated Internet providers in the country. We are thrilled to collaborate with the Everywhere Wireless team and accelerate their efforts to establish the preeminent residential and commercial broadband provider in the region.”

Brian Clark, Managing Partner at M/C Partners, added, “The company’s unrelenting focus on customer experience and network quality is best in class in Chicago, and we believe Everywhere Wireless’ continued success will change the competitive landscape in the region.”

About Everywhere Wireless

Since its launch in 2012, Everywhere Wireless has grown to become the leading provider of Gigabit Internet to multi-family buildings and businesses across Chicagoland. The Internet-only company offers access to revolutionary, lightning-fast Internet speeds alongside unparalleled reliability, ensuring uninterrupted viewing of streaming services. As the largest independent Internet service provider of Gigabit speeds, the company works with leading brands, including Nike, Google, Amazon, and the Art Institute of Chicago, as well as the leading commercial and residential property developers and managers throughout Chicagoland.

The company has been named Chicago’s Best Overall Internet Service Provider for three consecutive years and guarantees a 99.99% uptime to its customers. Using innovative fixed wireless and microwave technology, the company is able to deliver residential Internet speeds of up to 2,000 Mbps (2 Gigabits) and business speeds up to 10,000 Mbps (10 Gigabits).

Cogeco Communications Inc. Announces that Atlantic Broadband Will Acquire the Ohio Broadband Systems of WideOpenWest

MONTRÉAL and QUINCY, Mass., June 30, 2021 /PRNewswire/ - Today Cogeco Communications Inc. (TSX: CCA) announced that its subsidiary, Atlantic Broadband, has entered into a definitive agreement with WideOpenWest, Inc. (WOW) to purchase all of its broadband systems located n Ohio ("the Ohio broadband systems"). 

The WOW Ohio broadband systems pass approximately 688,000 homes and businesses in Cleveland and Columbus and serve approximately 196,000 Internet, 61,000 video and 35,000 telephony customers, as of March 31, 2021. For the twelve months ended March 31, 2021, revenue was US$244 million and pro forma adjusted EBITDA, including adjustments to reflect the expected cost structure of Atlantic Broadband and run-rate synergies, would have been US$103 million. 

"The acquisition of WOW's Ohio broadband systems allows us to add significant scale to our growing and profitable U.S. broadband business," said Philippe Jetté, President and Chief Executive Officer of Cogeco Communications Inc., the parent company of Atlantic Broadband.  "The acquisition also represents a strong strategic fit for Cogeco Communications as it is complementary to Atlantic Broadband's existing footprint and capitalizes on its existing platform. Under the guidance of Atlantic Broadband's experienced management team, we are in a unique position to grow our customer base, revenues and earnings, and to pursue our market expansion strategy."

"We are taking a major step in advancing Atlantic Broadband's high-growth strategy by expanding our reach beyond the east coast footprint with attractive markets, that will be strongly receptive to our customer-centric focus, superfast Internet, best-in-class managed WiFi and advanced video services," said Atlantic Broadband President, Frank van der Post. "The Ohio broadband systems' geographic fit with our Pennsylvania operations, combined with our success in winning customer share in competitive markets and our experience integrating acquired properties, will ensure operational efficiencies, a seamless transition for customers, and strong growth in these markets. To support us in our future growth plans, we look forward to welcoming our new colleagues located in Ohio into the Atlantic Broadband family."

Atlantic Broadband has entered into a Transition Service Agreement which will ensure a smooth transition period and allow Atlantic Broadband to further upgrade the network and launch its products and services, including a state-of-the-art IPTV platform.

The acquisition has significant strategic benefits including: 

• Adds scale to Cogeco Communications' U.S. broadband services segment which continues to exhibit superior growth and is expected to keep generating strong operating margins. Atlantic Broadband's Internet service customers will increase by 38 percent from approximately 511,000 to 707,000 pro forma the acquisition. With this acquisition, more than half of Cogeco Communications' revenue will be generated by the U.S. business.

• Expands Atlantic Broadband's geographical footprint in markets with very attractive demographic profiles and economies.

• Leverages Atlantic Broadband's product and sales expertise to increase the customer base and deliver superior growth.

• Network footprint reaches a sizable portion of the Columbus and Cleveland markets, making it easier to operate and to market products.

• Quality network, with 100 percent of homes passed served by a DOCSIS 3.1 platform with speeds of 1 Gbps offered in the entire footprint.

The Ohio broadband systems will be purchased for US$1.125 billion. In conjunction with the transaction, Atlantic Broadband expects to realize tax benefits with a present value of approximately US$140 million. These benefits are mostly due to the tax amortization of intangible assets in an asset purchase transaction where such intangible assets are stepped up to current market value. Post the Transition Service Agreement period, Atlantic Broadband expects to achieve run-rate annual synergies of US$2 million. After adjusting for these tax benefits and synergies, the purchase price represents a multiple of approximately 9.6x pro forma adjusted EBITDA for the twelve month period ended March 31, 2021. The purchase price is subject to customary closing adjustments. 

The purchase price and transaction costs will be financed through a US$900 million committed secured debt financing at the Atlantic Broadband level, and excess cash on hand. The transaction is subject to regulatory approvals along with other customary closing conditions and is expected to close in the first quarter of fiscal 2022.

APG and Fiera Infrastructure Complete Purchase of Conterra Networks

CHARLOTTE, N.C. and NEW YORK and TORONTO, June 30, 2021 - Conterra Ultra Broadband Holdings, Inc. ("Conterra Networks", "Conterra" or "the Company") today announced that affiliates of APG Group NV ("APG") and affiliates of Fiera Infrastructure Inc. ("Fiera Infrastructure"), along with significant participation by the Company's senior management team have closed on the purchase of the company from affiliates of Court Square Capital Partners ("Court Square") and certain other indirect equity holders of Conterra (the "Transaction"). 

Conterra Networks, headquartered in Charlotte, North Carolina, is one of the largest independent local providers of fiber-based services in the United States, with a 13,000-route mile fiber network that brings high-capacity customized middle and last-mile fiber and fixed wireless services to enterprise, carrier, education, government and data center customers across 21 states in the Southeast, South Central and Western US.

Craig Gunderson, President & CEO of Conterra, commented, "On behalf of the Conterra management team and our employees, we want to thank the Court Square team, our founding management team and our employees for guiding and supporting the growth of Conterra.  We are excited to be partnering with APG and Fiera Infrastructure to accelerate our expansion plans in Tier II and Tier III markets through the rapid expansion of our fiber networks, strategic acquisitions and enhanced fiber-based solutions, while remaining fully committed to delivering an exceptional customer experience."

APG is one of the largest pension fiduciary asset managers in the world, working for over 22,000 employers and providing the pension for one in five families in the Netherlands (approximately 4.7 million participants).  APG is one of the most active infrastructure investors globally, including a growing global presence across the telecommunications sector.  Steven Hason, Americas Head of Real Assets, commented, "On behalf of our clients, APG is pleased to announce this investment in Conterra Networks.  APG's approach to investing in digital infrastructure complements Conterra's long-term growth plans.  This investment will position Conterra to provide vital infrastructure to their growing customer base in Tier II and III markets well into the future.  APG looks forward to our partnership with both Fiera Infrastructure and the Conterra management team."

Fiera Infrastructure acquired a significant equity interest in the Company in April 2019, and the Transaction represents the culmination of Fiera Infrastructure's plan to acquire additional equity interests.

Fiera Infrastructure is a leading global mid-market direct infrastructure investor and an affiliate of Fiera Capital Corporation (TSX: FSZ).  Fiera Infrastructure's interests in Conterra are held in its EagleCrest Infrastructure strategy.  "Fiera Infrastructure looks forward to working closely with our new partner APG in support of Conterra's solid management team and employee base as they continue to execute upon their expansion strategy," said Alina Osorio, President of Fiera Infrastructure.  Jamie Crotin, Managing Director of Fiera Infrastructure, added that "Conterra provides a very strong platform on which we will continue to grow the Company, through both organic network builds and acquisitions."

About Conterra Networks
Founded in 2001, and now operating approximately 13,000 fiber route miles, Conterra is one of the largest independent providers of fiber-based services in the United States.

About APG
As the largest pension provider in the Netherlands APG looks after the pensions of 4.7 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €577 billion (March 2021) in pension assets. With approximately 3,000 employees who work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai, and Beijing.

APG has been an active infrastructure investor since 2004, investing approximately €16.0 billion to date and managing 36 direct stakes in portfolio companies. APG's investments include assets within energy and utilities, telecommunications, and transport infrastructure. APG's Global Infrastructure team is comprised of 35 investment professionals. For more information, please visit www.apg.nl

About Fiera Infrastructure
Fiera Infrastructure is a leading global mid-market direct infrastructure investor operating across all subsectors of the infrastructure asset class. Led by a team of highly experienced and specialized professionals, the firm leverages strong global relationships, with a local presence in both Toronto, London and New York. Its rigorous approach to investment and asset management aligns with its long-term approach. Fiera Infrastructure has assets under management and commitments of C$2.7 billion as of March 31, 2021. Fiera Infrastructure has invested in 35 infrastructure assets across utilities, telecommunications, transportation, renewables and PPPs.   For further information, please visit http://www.fierainfrastructure.com

About Court Square
Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 230 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.3 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.

Advisors
Weil, Gotshal & Manges LLP acted as corporate counsel and Harris, Wiltshire & Grannis LLP served as regulatory counsel to Fiera Infrastructure and APG, and Goulston & Storrs PC served as legal counsel to APG. TD Securities and Evercore served as financial advisors, and Dechert LLP acted as corporate counsel to Conterra and Court Square and Morgan, Lewis & Bockius LLP served as regulatory counsel to Conterra.  

SOURCE Conterra Ultra Broadband Holdings, Inc.

KKR to Acquire Ensono

DOWNERS GROVE, Ill., April 14, 2021 - Ensono, a leading hybrid IT services provider, and KKR, a leading global investment firm, today announced that KKR has signed a definitive agreement to acquire Ensono from Charlesbank Capital Partners and M/C Partners. The new investment follows multiple years of strong performance by Ensono, including robust growth in 2020 and its recently completed acquisition of Amido, a UK-based cloud native consultancy.

Ensono provides a comprehensive suite of services that help enterprises manage, optimize and modernize their IT systems across mainframe, cloud and hybrid infrastructure. Charlesbank and M/C Partners acquired the company in 2015 as a corporate carve-out. Since rebranding as Ensono in 2016, the company has achieved impressive growth in new clients and revenue. Ensono will benefit from KKR's deep technology experience and global resources to help it achieve new heights as it continues to establish itself as a leading managed service provider to medium and large enterprises.

"As we embark on our next chapter with KKR, Ensono will continue to provide clients with transformational solutions that help them operate for today and optimize for tomorrow," said Jeff VonDeylen, CEO of Ensono. "Our initial investors played an important role in helping us establish our business and brand and funding our growth.  With the support of KKR, we will continue to grow and invest in our future as we drive innovation to meet the changing needs of our clients. We are fortunate to be in an industry where the need for our services has not only grown but diversified into exciting new areas of potential growth."

"Digital transformation across industries is driving an increased need for comprehensive service providers to help simplify IT infrastructure management for enterprise clients," said Webster Chua, Partner at KKR. "Ensono is a proven leader in delivering hybrid solutions for clients with complex IT environments, and we are thrilled to support the Ensono team on its next phase of growth and development."

"We are proud that our investment enabled Jeff and his outstanding management team to achieve their ambitious vision of establishing Ensono as a global leader in hybrid IT," added Michael Choe, Managing Director and CEO of Charlesbank Capital Partners, and Gillis Cashman, Managing Partner of M/C Partners, in a joint statement. "We are thrilled about Ensono's new investment from KKR and look forward to seeing its success continue as the company adds to its portfolio of innovative service options."

KKR is making the investment primarily from its Americas XII Fund. The investment adds to KKR's experience helping to grow leading global technology businesses, including GoDaddy, Internet Brands, Epicor, BMC, Optiv, Calabrio and 1-800 Contacts.

The transaction is expected to close within the next 60 days, subject to regulatory approvals and other customary closing conditions. Financial terms were not disclosed.

UBS Investment Bank and Guggenheim Securities, LLC are serving as financial advisors to Ensono. Morgan Stanley & Co LLC and RBC Capital Markets, LLC are serving as financial advisors to KKR. Goodwin Procter LLP is providing legal counsel to Ensono and Simpson Thacher & Bartlett LLP is serving as KKR's legal counsel.

About Ensono
Ensono helps IT leaders be the catalyst for change by harnessing the power of hybrid IT to transform their businesses. We accelerate digital transformation by increasing agility and scalability through infrastructure modernization and migration to public cloud. Our broad services portfolio, from mainframe to cloud, is powered by an award-winning IT insights platform and is designed to help our clients operate for today and optimize for tomorrow. We are certified experts in AWS and Azure and recognized as Microsoft Datacenter Transformation Partner of the Year. Ensono has over 2,400 associates around the world and is headquartered in greater Chicago. Visit us at www.ensono.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, as well as opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

About M/C Partners 
M/C Partners is a private equity firm focused on small and mid-size businesses in the communications and technology services sectors. For more than three decades M/C Partners has invested $2.2 billion of capital in over 130 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its eighth fund, partnering with promising companies and empowering strong leaders to accelerate growth, optimize operations, and build long-term value. For more information, visit www.mcpartners.com.

Altice USA to Acquire Morris Broadband

NEW YORK - Altice USA (NYSE: ATUS) today announced it has entered into a definitive agreement to acquire the assets of Morris Broadband, LLC (“Morris Broadband”). The transaction will expand Altice USA’s footprint in North Carolina, where it already has a presence with its Suddenlink business, and implies an enterprise value of $310 million total for the Morris Broadband business on a debt-free and cash-free basis. Following this acquisition, North Carolina will represent the sixth largest state for Altice USA out of its 21 states of operations in terms of number of residential customers, demonstrating the Company’s commitment to invest heavily in the region with additional resources and network investments.

Morris Broadband is a rapidly growing broadband communications services company providing high-speed data, video and voice services to approximately 36,500 residential and business customers in western North Carolina. As of December 31, 2020, Morris Broadband passed approximately 89,000 homes throughout growing communities including Hendersonville, Franklin, Sylva, Nebo and West Jefferson with broadband penetration of approximately 35%.

Dexter Goei, Chief Executive Officer of Altice USA said: “We are very excited to extend Altice USA’s footprint into neighboring communities in North Carolina by acquiring the very fast-growing Morris Broadband. Morris is a perfect fit for Altice as we are accelerating our network expansion with increased investment in edge outs, upgrades of underdeveloped systems and FTTH deployment to drive customer, revenue and cash flow growth. We look forward to providing our high-quality broadband, video, mobile, and news offerings to thousands of additional homes and businesses, with a great opportunity to further penetrate Morris’ existing homes passed and by expanding more into adjacent areas.”

William S. “Billy” Morris III, Chairman of Morris Communications Company, LLC said: “It has been a pleasure for the Morris Family to serve the residents of western North Carolina for the last 12 years. We are confident that Altice will continue to provide superior services to the region.”

As part of Altice USA, Morris Broadband will benefit from enhanced scale, operating efficiencies and further investment support that are at the core of the Altice business model and strategy, including accelerated new homes build. Altice USA’s commitment to innovation, best-in-class services, long-term network investments and customer service creates significant benefits and long-term value for customers, employees and shareholders.

Morris Broadband generated approximately $13 million in Adjusted EBITDA on an annualized basis for the quarter ended December 31, 2020 (“Q4 LQA”). The purchase price represents a multiple of Morris Broadband’s Q4 LQA Adjusted EBITDA of approximately 24.1x before taking into account estimated run-rate synergies. Including the estimated run-rate synergies that Altice USA expects to realize in full within two years of closing the transaction and adjusting for the present value of anticipated tax benefits, the purchase price represents a multiple of projected 2022 Adjusted EBITDA of 7.4x.

Altice USA intends to finance the transaction with available liquidity. The transaction is subject to certain regulatory approvals and other customary closing conditions and is expected to be completed in the second quarter of 2021.

Moorgate Securities acted as financial advisor to Morris Broadband in connection with this transaction.