Published in Breaking News

Rural internet provider FreedomNet Wireless acquired by Indiana firm

BY MiBiz Staff Friday, January 25, 2019 01:36pm

BYRON CENTER — Rural wireless provider FreedomNet Wireless was acquired by an Indiana-based internet provider.

The deal for Byron Center-based FreedomNet, which serves rural areas mostly south of Grand Rapids, near Fowlerville and in Southwest Michigan, expands La Porte, Ind.-based Surf Air Wireless LLC’s coverage area north into West Michigan, according to a statement.

Surf Air Wireless now offers internet access across a 30,000-square-mile area of the Great Lakes region, from just east of the Mississippi River to Ohio.

The acquisition coincided with a $40 million investment from Stamford, Conn.-based Post Road Group, a private equity and investment firm specializing in real estate, telecommunication infrastructure, media, technology, business services and health care services.

“This new capital partnership with Post Road Group will allow us to grow organically and through acquisition, aggressively bringing connectivity and internet access to the rural homeowner, expanding our partnerships with multiple school districts and grow our commercial business,” Surf Air Wireless CEO Greg Armstrong stated.

Surf Air Wireless was advised on the deal by investment banking firm MVP Capital Advisors.

According to the FreedomNet website, the company — an alias of FNW LLC — transferred its services to Surf Air Wireless as of Nov. 21. The deal was announced Jan. 18.

“While our name is changing, the service and support you are accustomed to is not,” the company stated.

Read 1929 times Last modified on Friday, 25 January 2019 13:47
SUBSCRIBE TO MIBIZ TODAY FOR WEST MICHIGAN’S FINEST BUSINESS NEWS REPORTING >