Private equity firm Antin Infrastructure Partners (ANTIN – ISIN: FR0014005AL0) says it has completed the acquisitions of Empire Access and North Penn Telephone, which provide broadband services via fiber-to-the-premises (FTTP) in New York and Pennsylvania. Together, the two companies operate FTTP infrastructure of 1,280 fiber route miles that serve more than 96,000 addresses and 29,000 customers in Western New York and Northern Pennsylvania.
Founded in 1896 and based in Prattsburgh, NY, Empire was a family owned business, controlled by the Wagner family since 1946. The family will retain a stake in the company, with Brian Wagner remaining on the board of directors. “Empire has been a part of my family since 1946. We couldn’t be more proud of the track record of success and customer service that the company has achieved, which is entirely a testament to the tremendous people that work here,” said Wagner. “We are excited to see what the team can achieve under Antin’s ownership.”
Antin says it plans to continue to expand Empire’s FTTP footprint. “Empire is uniquely positioned to leverage its expansive fiber network to provide broadband services to underserved parts of New York and Pennsylvania. We are thrilled to partner with the Empire management team to support the next chapter of the company’s growth,” commented Francisco Abularach, senior partner at Antin.
“Empire is one of the preeminent FTTP providers in the regions we serve and the Empire-Antin partnership will enable us to grow more quickly,” added Jim Baase, CEO at Empire. With still a substantial opportunity ahead, we are excited to partner with Antin to help secure that future growth and provide high speed broadband access to consumers across our footprint.”
Antin did not disclose financial terms of the purchase.
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