Trive Capital, a Dallas-based private equity firm, has closed on a deal to sell the internet provider EarthLink.\u00a0<\/p>\n
The buyer is a\u00a0family office<\/a> consortium that includes WaveDivision Capital, a Washington state-based investment firm; The Pritzker Organization, the Chicago-based private investment firm tied to the billionaire Pritzker family; and Stephens Capital Partners, an Arkansas-based private equity firm that manages investments for the prominent Stephens family. Trive Capital will also retain a minority stake. \u00a0<\/p>\n The deal was announced this month by both parties, although the price was undisclosed. Trive Capital had purchased EarthLink from Windstream Holdings, an Arkansas-based telecom\u00a0company, for $330 million in late 2018. Two years earlier, in late 2016, Windstream\u00a0acquired the legacy internet company in a deal that valued EarthLink at over $600 million<\/a>.\u00a0<\/p>\n \u201cOver the last several years, we have taken one of the most trusted brands in the internet space and turned it into a trusted option for consumers and small businesses nationwide,\u201d Glenn Goad, EarthLink\u2019s CEO, said this month in a statement.\u00a0<\/p>\n With its new owners, the company plans to expand into new markets and extend its reach with individuals and small businesses, Goad added. \u201cOur collective goal remains the same: to provide the right technology at the right price, supported by a world-class customer experience.\u201d\u00a0<\/p>\n Representatives for Trive Capital and WaveDivision did not immediately respond to inquiries from The Dallas Morning News on Tuesday.\u00a0<\/p>\n Atlanta-based EarthLink was founded in 1994 and at one point ranked as the country\u2019s second-largest internet provider behind AOL. The company now uses what it describes as a \u201cmulti-carrier partner model,\u201d in which it effectively acts as a third-party seller for other providers.\u00a0<\/p>\n Trive Capital, based in Uptown Dallas, manages over $8 billion in assets, according to its website, with investments that range from aerospace firms to fitness companies. \u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Trive Capital, a Dallas-based private equity firm, has closed on a deal to sell the internet provider EarthLink.\u00a0…\n","protected":false},"author":2,"featured_media":479020,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[102,104,103],"class_list":["post-479019","post","type-post","status-publish","format-standard","has-post-thumbnail","category-dallas","tag-dallas","tag-dallas-headlines","tag-dallas-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/479019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=479019"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/479019\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/479020"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=479019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=479019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=479019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}