Macquarie Asset Management has announced plans to invest $275 million in US Internet firm SwyftFiber.
SwyftFiber provides Internet and TV streaming services to communities in Louisiana, Arkansas, and Mississippi.
The transaction remains subject to regulatory approvals.
Macquarie noted that the investment will enable SwyftFiber to speed up the construction of fiber infrastructure in existing and new markets and continue the company’s growth, including throughout the Gulf region.
“We believe that the combination of SwyftFiber’s proven ability to bring broadband to underserved areas and its significant growth potential represents a unique opportunity to invest in the rapidly growing consumer fiber sector,” said Karl Kuchel, CEO of Macquarie Infrastructure Partners.
Founded in 2008, CableSouth Media III (trading as SwyftFiber and SwyftConnect) provides telecommunication services including Internet, interconnected VoIP, and cable and streaming video services to residential and commercial customers.
The company was a significant grant winner in the Rural Development Opportunity Fund auction as well as several state grant programs within its three-state footprint.
Houlihan Lokey has served as the exclusive financial advisor to SwyftFiber, while Bankstreet is the exclusive financial advisor to Macquarie in the Transaction.
