New York, 26 October 2023
Macquarie Asset Management (“MAM”), the world’s largest infrastructure manager1 announced today that a fund managed by MAM (“the Fund”) entered into an agreement to make a structured equity investment (“the Transaction”) in SwyftFiber, which provides fast and reliable internet and television streaming services to communities in Louisiana, Arkansas and Mississippi. The Transaction remains subject to regulatory approvals.
SwyftFiber’s management team has decades of cumulative experience in building and operating broadband companies and the company has achieved significant success in rapidly scaling broadband infrastructure. In addition, SwyftFiber has strong partnerships with local and federal government agencies, having been selected to help improve broadband availability in underserved communities through the Louisiana GUMBO grant program and the Federal Communications Commission’s RDOF program.
Reliable internet connectivity is a fundamental infrastructure service today, a critical avenue to education, medical services, job opportunities, among other modern needs. The Fund’s proposed investment is expected to allow SwyftFiber to accelerate the construction of fiber infrastructure in existing and new markets and continue the company’s growth, benefiting communities throughout the Gulf region.
“We believe that the combination of SwyftFiber’s proven ability to bring broadband to underserved areas and its significant growth potential represents a unique opportunity to invest in the rapidly growing consumer fiber sector,” said Karl Kuchel, CEO of Macquarie Infrastructure Partners. “We look forward to partnering with the SwyftFiber management team to support the future growth of the business."
“I'm very proud to announce this new partnership with Macquarie Asset Management,” said Jason Hunt, Co-Founder and CEO of SwyftFiber. “MAM has a highly respected track record in bringing fiber connectivity to underserved geographies and is aligned with our mission of providing high speed internet to communities that have historically lacked investment in high quality connectivity.”
Houlihan Lokey is serving as exclusive financial advisor to SwyftFiber and Bankstreet is acting as exclusive financial advisor to MAM in the Transaction.
Founded in 2008, CableSouth Media III (d.b.a SwyftFiber and SwyftConnect) provides telecommunication services including internet, interconnected VoIP, and cable and streaming video services to residential and commercial customers in Louisiana, Mississippi and Arkansas. CableSouth was a significant grant winner in the Rural Development Opportunity Fund auction as well as several state grant programs within its three state footprint.