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TPG completes acquisition of Grande Communications and RCN

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TPG completes acquisition of Grande Communications and RCN

TPG Capital on Feb. 1 closed its acquisitions of regional broadband service providers RCN Telecom Services LLC and Grande Communications Networks LLC.

The transaction sees the two acquired companies combined into the seventh largest U.S. cable company, which will provide high-speed data services for residential and business users in six states. Jim Holanda and Steve Simmons of Patriot Media will continue to lead the combined company.

TPG Capital in 2016 agreed to acquire Grande Communications and RCN for a transaction of $2.25 billion, including debt.