Grain Management, LLC, a Washington, D.C.-based investment firm focused on the global communications market, says it has completed its previously announced agreement to buy a majority interest in Summit Vista, Inc., which does business as Summit Broadband (see “Grain Management to buy Florida’s Summit Broadband”). Cable Bahamas was the prior owner. Terms of the deal were not disclosed.
Founded in 1994, Summit Broadband serves residents and businesses in central and southwest Florida. It operates a fiber-optic network of more than 1800 fiber route miles, which it uses to offer voice, video, data, and internet services, as well as Ethernet and dark fiber transport.
"Summit has an impressive history of serving businesses across multiple industries and residential customers in central and southwest Florida communities," said David Grain, founder and CEO of Grain Management, when the deal was first announced last August. "As a global investor in the industry, Grain is poised to partner with Summit in advancing its position as a leading fiber-optic telecommunications provider, and aid in the expansion of these services in an increasingly smart and connected world."
The transaction is one of three Grain announced since August. The company also has agreements in place to purchase Hunter Communications, Inc., which Grain says owns and operates one of the largest private fiber-optic networks in Oregon (see “Grain Management to buy Hunter Communications”), and Ritter Communications of Arkansas. The investment firm also has stakes in Great Plains Communications and WANRack.
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