TORONTO, ON /ACCESSWIRE/July 20, 2022/ White Cloud Communications US LLC (dba “Broadlinc”) and Forum Asset Management (“Forum”) are pleased to announce the completion of the second tranche of Forum’s growth capital investment in Broadlinc. The investment was made through Forum Urban Infrastructure Opportunities Fund I. Proceeds will be used to fund Broadlinc’s ongoing network development and expansion efforts in rural Kentucky.
“We are excited about Broadlinc’s progress in achieving its strategic objectives,” said Duncan Ramage, Managing Partner – Private Equity. “Broadlinc’s management team has added nearly 4,000 passes since our initial investment in May 2021 and the business now has over 5,000 customers. This greatly improves access to high-speed broadband services in rural Kentucky, and we are committed to supporting their continued growth.
“Our partnership with Forum has provided us with the capital, flexibility and expertise to execute our growth plan and positively impact our community by providing affordable, quality internet service and creating employment opportunities for people in rural Kentucky,” said Kerry Bowlin, CEO of Broadlinc. “We are excited to continue our mission and further expand our network to bridge the digital divide.”
Headquartered in Owenton, Kentucky, Broadlinc is a locally owned and operated provider of high-quality home and business digital Internet, video and telephony products through its cable, fiber and fixed wireless networks at affordable prices with customer service of high quality. Broadlinc currently serves thousands of commercial and residential customers in northeast and south-central Kentucky, primarily in rural communities. For more information about Broadlinc, visit www.broadlinc.com.
About the board
Forum is an investor, developer and asset manager operating across North America for over 25 years. Our main goal is to deliver extraordinary resultsMT to our stakeholders. Our adaptable, agile and dynamic team is committed to sustainability and responsible investing, creating value that benefits the communities in which we invest. Our investment focus includes real estate, private equity and infrastructure. The enterprise value of our assets under management currently exceeds C$1.7 billion.
Forum’s private equity investment strategy is to provide growth, buyout and succession capital to sustainable infrastructure and critical mid-market service platforms. We target investments that offer opportunities for positive impact, value creation and growth. For more information on Forum’s private equity investment strategy, visit forumam.com/private-equity.
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Amy Burstyn Fritz
THE SOURCE: Forum Asset Management
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