PRINCETON, N.J., Feb. 21, 2020 /PRNewswire/ -- RCN, Grande, Wave today announced the acquisition of EnTouch Systems, Inc. (EnTouch), adding its robust residential and business services in Houston, TX to the organization's portfolio. The transaction is expected to close later this year and is subject to customary closing conditions, including regulatory approvals. Upon closing, this acquisition will add approximately 22,000 customers to its operations in Texas.
EnTouch provides high-speed internet, video, voice and home security services to the fast-growing greater Houston, TX area and is a natural fit and extension of the combined company's existing Grande Communications footprint in Texas, which includes Dallas, Austin, San Antonio, Corpus Christi, Waco and Midland/Odessa. Houlihan Lokey served as EnTouch's financial advisor on the sale process.
"Since the combination of RCN, Grande and Wave, our company has seen tremendous growth," said Jim Holanda, CEO of RCN, Grande, Wave. "The addition of EnTouch is a natural next step, expanding our fiber rich network by 1,400 miles and adding 22,000 residential and business customers in the largest city in Texas. As a group, we will continue to provide consumers top-notch customer service, great products and unparalleled choice and control."
Entering Houston will solidify the companies' presence in 8 of the top 10 designated market areas in the U.S.
"EnTouch Systems is excited to become a part of the family of companies with RCN, Grande and Wave," said Sam Luxton, President and CEO of EnTouch. "This transaction provides EnTouch with access to nationally recognized technical expertise, highly regarded operational management systems and processes, and unparalleled financial acumen to further the re-building and re-imagination of EnTouch that began in 2018. Moreover, this transaction is great for our customers and the communities we serve. Our shared commitment to provide customers with innovative connected solutions coupled with our common belief that every customer matters makes this a natural fit."
In 2017, TPG Capital, the global private equity platform of alternative asset firm TPG, acquired RCN and Grande Communications. In 2018, the organization completed its acquisition of Wave Broadband, creating the sixth largest cable provider in the U.S. Now a nationwide broadband service platform, the organization provides industry-leading high-speed internet, broadband products, digital TV, phone services and fiber optic solutions for residential and business customers across the United States.
TPG is a leading global alternative asset firm founded in 1992 with approximately $72 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG's investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across its investment strategies and the performance of its portfolio. For more information, visit www.tpg.com.
About RCN, Grande Communications and Wave Broadband
RCN Telecom Services, LLC (www.rcn.com) Grande Communications (www.mygrande.com) and Wave Broadband (www.wavebroadband.com) form the sixth largest US cable operator and provide industry-leading high-speed internet, broadband products, digital TV, phone services and fiber optic solutions for residential and business customers across the United States. Together, RCN, Grande and Wave serve areas of Massachusetts, Chicago, Pennsylvania, New York City, and Washington, DC. (RCN); Texas (Grande Communications) and Washington, Oregon and California (Wave Broadband).
About EnTouch Systems, Inc.
EnTouch Systems is a full-service provider of broadband, TV, voice, security and home automation services over its own robust fiber-optic network. EnTouch services residential and commercial customers in the Greater Houston area. Since 1996, EnTouch has made great customer service its number one priority. EnTouch primarily serves the Cypress, Katy, Missouri City, Spring and Sugar Land, TX areas of Houston. To learn more about the EnTouch commitment to Houston residents, please visit www.entouch.net.
Matter on behalf of RCN
SOURCE Radiate Holdco, LLC