ImOn Communications, LLC (“ImOn”), one of the fastest growing fiber-to-the-premise (“FTTP”) broadband companies in eastern Iowa, announced that it has signed definitive documentation to be acquired by the Infrastructure investing business within Goldman Sachs Asset Management to support ImOn’s expansion of its high-speed fiber network in the surrounding markets.
As part of the transaction, Goldman Sachs Asset Management will make new investments to help accelerate ImOn’s growth in FTTP data, video, and voice services to homes and businesses throughout eastern Iowa and surrounding markets.
ImOn was founded in 2007 as a single-market cable provider and has transformed into a regional fiber-to-the-premise platform that currently owns and operates a 2,000+ mile network that reaches over 60,000 households and businesses. The Company is committed to delivering superior network reliability, unrivaled connection speeds, and exceptional customer service. Goldman Sachs Asset Management’s capital, resources, and expertise will help expand ImOn’s serviceable footprint, reaching more residents and businesses within the Company’s existing markets and new markets.
Leonard Seevers, a Partner leading digital infrastructure investing within Goldman Sachs Asset Management, said, “Increasing usage and reliance on broadband connectivity by households and businesses create a highly attractive growth opportunity for ImOn to deploy FTTP infrastructure. We are incredibly excited to partner with Patrice and the rest of the ImOn management team, and to be ImOn’s strategic and capital partner as it executes this next phase of growth.”
This transaction supports Goldman Sachs’ focus on infrastructure investing, which includes businesses delivering infrastructure that enable more efficient digital solutions and improve connectivity, such as CityFibre, UK’s largest independent Full Fibre infrastructure platform, and Global Compute, a global data center platform.
The transaction is expected to close in the first half of 2022 and is subject to obtaining customary regulatory approvals.
quality products and services, provide the highest level of customer service, employ local people, and support the communities we serve. ImOn is locally headquartered and operated and offers customers tremendous value and choice for services. For more information regarding ImOn Communications, visit ImOn.net.
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