Searchlight completes USD1.35bn takeover of Frontier Communications Northwest; rebrands assets as Ziply Fiber

5 May 2020

Private investment firm Searchlight Capital Partners has announced that it has completed the acquisition of the Northwest operations and assets of Frontier Communications, in partnership with WaveDivision Capital (WDC), the Public Sector Pension Investment Board, British Columbia Investment Management Corporation (BCI) and Canada Pension Plan Investment Board (CPP Investments).

The transaction, which was first announced on 29 May 2019, is valued at USD1.352 billion, while an additional USD500 million will be invested in network and service improvements, from a total commitment of approximately USD2.0 billion. This investment is expected to benefit the approximately 500,000 current residential and business internet, phone and TV subscribers across four states in the Northwest: Washington, Oregon, Idaho, and Montana. The new company will operate as Ziply Fiber, and will be headquartered in Kirkland, Washington.

United States, Frontier Communications, Searchlight Capital, Ziply Fiber