SIOUX FALLS, SD – Vast Broadband ("Vast"), a leading provider of gigabit-speed broadband, video, and phone in South Dakota and Minnesota, today announced it has signed an agreement to be acquired by GI Partners, a leading US-based investor in data infrastructure businesses, in partnership with industry veteran Rich Fish. GI Partners will support the company and its employees to continue providing world-class service to communities throughout the region.
Based in Sioux Falls, South Dakota, Vast Broadband is a leading provider of high-speed broadband, video, and voice services to over 60,000 residential and business customers. Vast Broadband is currently owned by Pamlico Capital and Oak Hill Capital.
The transaction is expected to close following satisfaction of customary closing conditions, including regulatory approvals. GI Partners will make the investment from the GI Data Infrastructure Fund.
Weil, Gotshal & Manges acted as legal counsel to GI Partners. RBC Capital Markets, LLC acted as exclusive financial advisor to Vast Broadband and Alston & Bird acted as legal counsel.