Bain Capital acquires majority stake in Surf Broadband Solutions

Bain Capital Credit has agreed to acquire a majority stake in Surf Broadband Solutions, a fibre ISP that serves parts of the Great Lakes Region, notably Indiana, Illinois and Michigan. As per the terms of the transaction, Bain has committed significant growth capital to accelerate Surf Broadband’s fibre-optic network expansion. The company will continue to operate under the direction of its current leadership team, many of whom are significant investors in the business. In addition, Post Road Group – Surf’s current majority shareholder – will remain an investor alongside Bain Capital and further capitalise the company’s growth plans. Financial terms of the transaction have not been disclosed.