Unite Private Networks Receives Majority Investment from Ridgemont Equity Partners
Published On August 31, 2010 |
Unite Private Networks (UPN), a Kansas City, MO-based provider of high-bandwidth, fiber-based communications networks, has signed a definitive agreement for a majority investment with Ridgemont Equity Partners, a new middle market buyout and growth equity firm.
The new partnership will enable the business to continue to expand and serve new markets. UPN currently provides schools, government, carriers, data centers and enterprise business customers across 12 U.S. states (primarily in the Midwest U.S.) with high-capacity data communications networks and related services.
The transaction, whose financial terms remained undisclosed, requires the approval of federal and state regulators and is expected to close during the fourth quarter of 2010.
Senior debt financing is being arranged by the Royal Bank of Canada, alongside CoBank and Webster Bank, will provide UPN with a senior debt financing.