Stonepeak agrees to buy Xplornet, sources say

26 Feb 2020

New York-based investment firm Stonepeak Infrastructure Partners has agreed to buy Canada’s leading rural fixed-wireless broadband provider Xplornet Communications for around USD2 billion including debt, according to unnamed people familiar with the matter cited by Bloomberg. A deal could be announced as soon as next month, according to the sources who asked to remain anonymous as the matter is private.

New Brunswick-based Xplornet, which operates hybrid wireless/satellite and fibre networks in rural areas across Canada, has been seeking a buyer the past few months. Its current owners include private equity firms Sandler Capital Management and Catalyst Investors.

Canada, Xplornet Communications