Cable ONE unveils Clearwave Fiber JV

6 Jan 2022

US cableco Cable ONE has entered into a joint venture (JV) with affiliates of GTCR, Stephens Capital Partners, The Pritzker Organisation (TPO), and certain members of the management team for the venture to support the accelerated growth of the newly formed Clearwave Fiber entity.

Clearwave Fiber holds Cable ONE’s subsidiary Clearwave Communications and certain fibre assets belonging to Cable ONE’s subsidiary Hargray Communications. With the formation of the JV, Clearwave Fiber intends to invest heavily in bringing fibre-to-the-premises (FTTP) services to residential and business customers across its existing footprint and near-adjacent areas.

The investors will make ‘substantial cash investments’ to finance Clearwave Fiber’s expansion and will be represented on the Board of Directors for the JV and have certain governance rights. Cable ONE will receive no cash proceeds from the transaction but will own a majority of Clearwave Fiber. The operations contributed to the JV by Cable ONE represent approximately 3% of the cableco’s consolidated revenues for the three months ended 30 September 2021.

United States, Clearwave, GTCR, Sparklight (formerly Cable ONE)