01/08/2024
Citizens Advises Mainstream Fiber on its Strategic Growth Investment from Searchlight Capital Partners
PROVIDENCE, RI – Citizens M&A Advisory served as the exclusive financial advisor to Mainstream Fiber Networks, LLC on its strategic growth investment from Searchlight Capital Partners, L.P. Searchlight’s investment will accelerate Mainstream’s growth plans to expand high-speed fiber internet services to unserved and underserved communities throughout the state of Indiana.
Founded in 2006, Mainstream is an Indiana-based fiber-to-the-premise (“FTTP”) operator focused on delivering 100% fiber-based high-speed internet services to thousands of rural and suburban residential and business customers across eight counties in Indiana. The company’s state-of-the-art fiber optic network delivers industry-leading symmetrical gigabit-plus speeds, enabling customers to meet their broadband needs for years to come. Mainstream is headquartered in Nashville, Indiana, with additional regional offices throughout the state.
“This is a pivotal transaction for both Mainstream and the state of Indiana,” said Mainstream Founder and CEO Bryan Gabriel. “This investment will accelerate our aggressive expansion plans to deliver best-in-class fiber connectivity to thousands of unserved and underserved homes and businesses throughout Indiana. I would like to personally thank Battle Moore, Joe Duggan and the entire Citizens advisory team for their guidance and industry expertise throughout the process. We are excited for Mainstream’s next chapter.”
Citizens Managing Director and Head of Communications Investment Banking Battle Moore said: “Congratulations to the Mainstream team. Citizens is proud to deliver an integrated suite of digital infrastructure sector expertise and strategic advisory services in order to facilitate a great outcome for everyone involved. Mainstream and Searchlight have created a fully funded and proven platform that is uniquely qualified to bridge the broadband divide across the Hoosier State with substantial upside for all stakeholders. We are excited about their partnership and the bright future ahead.”
Citizens specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, LLC, a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $225.3 billion in assets as of September 30, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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