Xplornet draws interest from private equity firms, sources say

28 Jul 2016

Canadian rural broadband provider Xplornet Communications is drawing interest from US private equity firms as it renews plans to seek either an initial public offering (IPO) or an outright sale, reports Bloomberg citing unnamed sources with knowledge of the matter. The unconfirmed report said that Providence Equity Partners, Bain Capital and ABRY Partners are weighing bids for Xplornet, said to be valued at more than CAD1 billion (USD758 million), whilst Xplornet is working with advisers on the proposed dual-track process and could make a decision on whether to pursue an IPO or outright sale by September, according to the anonymous sources. Xplornet suspended IPO plans last year due to market volatility.

Canada, Xplornet Communications