Investment firm Grain Management has finalized its strategic combination of fiber providers Ritter Communications and Great Plains Communications to form Rightfiber.. The merger of the two companies combines two telcos with more than 100 years of history each and completes the deal that was first announced in June.. – Getty Images.
Grain Management, which specializes in digital infrastructure and communications investments, said the deal will position Rightfiber to “accelerate fiber broadband expansion.”. “Today marks an exciting new chapter for our employees, customers, and communities,” said Heath Simpson, chief executive officer of Rightfiber..
“The combination creates an organization built on shared values, exceptional people, and a commitment to investing in the communities we serve.”. Grain has supported the growth of both Ritter and Great Plains via long-term investments, enabling each company to expand its respective footprint..
Following the merger of the two, Rightfiber has entered into a $1.6 billion credit facility led by Fifth Third Bank, to fund continued organic growth as well as potential M&A.. “Our team is in place, the network is connected, systems integration is in process, and we have successfully funded our growth plan,” added Simpson.
“Our next chapter is well underway.”. The creation of Rightfiber will see the company serve more than 400 communities across 20 states. This includes more than 300,000 Fiber-to-the-Home (FTTH) passings through its 28,000-mile fiber network..
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