Stonepeak Infrastructure Partners has teamed with Patriot Media in an $8.1bn (€6.9bn) deal to buy the US cable operator Astound Broadband from TPG Capital.
Patriot Media, headed by Steve Simmons and Jim Holanda, currently manages Astound.
Astound is a broadband provider offering internet, entertainment, communications, connectivity and fibre infrastructure solutions for residential customers and businesses of all sizes. It operates RCN Telecom Services, Grande Communications, Wave and enTouch Systems.
Brian McMullen, partner at Stonepeak, said: “Astound is the premier operator of critical broadband infrastructure in the US with a long history of delivering market-leading customer service and network performance to communities across the country.
“In our increasingly connected society, we believe there is an extraordinary opportunity to deliver faster speeds and greater coverage, fundamentally enabling many aspects of everyday life.”
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