Stonepeak Infrastructure Partners (Stonepeak), a private equity firm specializing in infrastructure investing, recently announced it has entered into an agreement to acquire Astound Broadband (Astound), the sixth largest U.S. cable operator in the United States.
Stonepeak will acquire the company from TPG Capital and Patriot Media Management for $8.1 billion.
Stonepeak is partnering with Patriot Media, the industry-leading management team headed by Steve Simmons and Jim Holanda that currently manages Astound. The company is a premier broadband provider offering internet, entertainment, communications, connectivity and fiber infrastructure solutions for residential customers and businesses of all sizes. The company has built modern, top-quality, high-speed communications infrastructure networks that offer gigabit speeds serving eight of the top ten largest metro areas throughout the United States.
Astound Broadband's brands RCN, Grande, Wave and enTouch serve over one million customers with 23,000 miles of fiber across Chicago, Eastern Pennsylvania, Massachusetts, New York City, Northern California, Oregon, Texas, Washington, DC., and Washington.
