Summit Broadband Secures Additional $100 Million for Florida Expansion
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
US:NYSE Investor Relations:
bam.brookfield.com/en
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Source: PR Newswire
ORLANDO, Fla., Dec. 17, 2024 /PRNewswire/ -- Summit Broadband, a leading fiber-optics telecommunications provider in Florida, announced the successful closing of an incremental $100 million debt facility and term expansion with Brookfield Asset Management ("Brookfield").Backed by financial sponsor Grain Management ("Grain"), the company is committed to enhancing service for existing customers while expanding its residential and commercial fiber network footprint, further solidifying its position as a leading provider of high-performance connectivity solutions in Florida.Grain hired industry veteran Kurt Van Wagenen as CEO in 2023. Under Kurt's leadership, Summit Broadband has made significant investments to expand its leadership team, upgrade its 5,000 route-mile fiber network, enhance the customer experience, and roll out state-of-the-art new products. All of this has been done while improving profitability and growing topline revenue. The additional funding will allow the Company to
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