Top North American private equity firm Novacap (Montreal, QC) has entered into a definitive agreement to acquire regional fiber broadband ISP All West Communications. Headquartered in Kamas, Utah, All West is a fiber-based provider of data, video, and voice services to residential, commercial and carrier customers in Utah and Wyoming.
Founded in 1912, All West in a statement noted that it has continued to evolve and adapt its technologies "to pursue its core mission: connecting people to what matters most."
The transaction is expected to close in the first half of 2023, following the satisfaction of customary closing conditions, including required regulatory approvals.
Matt Weller, All West's president, remarked:
"The demand for faster speeds, a wider range of services and pricing options is growing every day. This is an exciting partnership that will help us pursue significant growth opportunities. We have found in Ted and the Novacap team partners who bring expertise on both the management and product sides. We are very excited about entering several new markets in the near future with the collaboration of Novacap and its team."
Bank Street Group LLC served as exclusive financial advisor to Novacap in connection with this transaction. Paul Hastings, LLP served as legal counsel to Novacap. Stifel served as exclusive financial advisor to All West in connection with this transaction. Blackburn & Stoll, LC served as legal counsel to All West.
Ted Mocarski, senior partner at Novacap, commented:
"The continued transformation of All West into a leading broadband provider will benefit from the Novacap digital infrastructure playbook, and the prior successes of Fibrenoire, Oxford, FirstLight, Horizon and Stratus Networks. This partnership will enable All West to continue its mission of providing fast, reliable, fiber-based local Internet services to its customers, including those located in underserved communities. We look forward to accelerating the momentum of All West by expanding its footprint, enhancing its capabilities, and ensuring rapid network deployment.''
Founded in 1981 and applying its sector-focused approach since 2007 in TMT, Industries, and Financial Services, Novacap is a top tier North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Novacap has offices in Brossard, Québec, New York, NY and Toronto, Ontario.
Pascal Tremblay, president, CEO, and managing partner at Novacap, concluded:
"Novacap has deep expertise in the digital infrastructure sector and a proven track record of value creation. We look forward to leveraging Novacap's strategic insight, operational guidance, and financial capabilities to propel All West's growth."
