Partnership to accelerate rollout of fiber broadband across Wyoming, Colorado and Montana
Visionary Broadband (“Visionary”, or the “Company”) has received a strategic investment from funds affiliated with GTCR LLC (“GTCR”), a leading private equity firm based in Chicago, Illinois. The transaction will allow Visionary to continue investing in the construction of new fiber networks throughout Wyoming, Colorado and Montana, and will prepare Visionary for match requirements in upcoming State-led grant programs.
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Headquartered in Gillette, Wyoming, Visionary is a pioneering Internet Service Provider (“ISP”) serving residential and business subscribers in the Rocky Mountain region. Founded in 1994, Visionary has grown into one of the largest and most geographically diverse ISPs in the Rocky Mountain region, serving customers through the Company’s hybrid fiber and wireless network. In partnering with GTCR, Visionary Broadband will accelerate its ongoing network expansion in order to provide fiber-to-the-premise (“FTTP”) broadband to rural and underserved communities.
“This investment accelerates our commitment to deliver reliable, state-of-the-art gigabit internet where we live, work and play. We do what we say here at Visionary, and this allows us to do even more for both existing and future Visionary customers,” said Brian Worthen, CEO of Visionary Broadband. “GTCR shares our rural broadband focus, and we are excited to partner with them at this essential time for broadband.”
“The Visionary management team has built an incredible business with deep roots in the communities they serve,” said Stephen Jeschke, Managing Director at GTCR. “We are excited to partner with an experienced and entrepreneurial management team focused on hiring local and bringing multi-gigabit fiber-based internet access to their service areas.”
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Visionary is actively constructing FTTP projects in several markets in its existing footprint. The initial builds include the Wyoming communities of Casper, Cheyenne, Gillette, Lander, Laramie, and Lusk, and Marble, Gunnison, and Walden in Colorado. Previously, Visionary completed FTTP projects in Dayton, LaGrange, Ranchester, and Yoder in Wyoming, and in Kremmling, Colorado. The Company is deploying XGS-PON, a passive-optic networking technology capable of ten gigabits per second to every home.
Visionary plans new fiber projects in communities that desire a relationship with a broadband provider, are focused on economic development and are engaged on behalf of their citizens.
Q Advisors served as financial advisor to Visionary Broadband with Jennifer McDowell at Welborn Sullivan Meck & Tooley, P.C. serving as legal counsel. Kirkland & Ellis LLP served as legal advisor and PriceWaterhouseCoopers served as accounting advisor to GTCR.
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