Xplornet owners continue sale quest

The process of seeking buyers for Canada’s largest rural fixed-wireless broadband operator Xplornet Communications has entered a ‘second round’, with the company expected to be valued at CAD2 billion (USD1.5 billion) or more, according to PE Hub, a PEI Media publication specialising in private equity deals. The approximate valuation was not significantly changed from a figure of USD1.55 billion including debt given by Reuters quoting sources back in March 2018, at which date UBS and Bank of Montreal were reportedly hired to assist the sales process. New Brunswick-based Xplornet’s current leading shareholders include New York-based private equity firms Catalyst Investors and Sandler Capital Management.