New York City-based infrastructure investment companies Basalt Infrastructure Partners LLC and SDC Capital Partners LLC have agreed to acquire Coeur d’Alene-based fiber optics company Fatbeam Holdings LLC.
Gregory Green, Fatbeam co-founder and board chairman, says via email correspondence that he is confident in Basalt’s ability to provide strong financial support to help customers and employees grow their business.
Green plans to remain active in the fiber and internet investment sectors moving forward.
Fatbeam was founded in 2010 by Green and Shawn Swanby. The company builds high-capacity fiber optic networks and leases connectivity through fiber infrastructure on a wholesale basis to businesses, hospitals, and other customers.
According to the press release, Fatbeam is a leading broadband network in the western U.S. and provides fiber-based network services to education, commercial, carrier, and government customers across eight states.
Jill Jones, partner with Basalt Infrastructure says in the release, “Fatbeam is playing a key role in closing the educational digital divide by providing school districts in underserved areas with fast and reliable broadband access.”
Fatbeam is being purchased by the Basalt IV fund, which is managed by SDC Partners and other investors. The transaction is expected to be completed in the second quarter this year, the release says.
As previously reported by the Journal, SDC Capital Partners bought 51% interest in Fatbeam for $36 million in 2020. At the time, Fatbeam had 35 employees.
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