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 equity investment in Broadlinc. The investment was made through Forum Urban Infrastructure Opportunities Fund I. Proceeds will be used to fund continued network development and expansion efforts by Broadlinc in rural Kentucky.
"We're excited by the progress that Broadlinc has made towards achieving its strategic goals," said Duncan Ramage, Managing Partner - Private Equity. "The Broadlinc management team has added nearly 4,000 passings since our initial investment in May 2021 and the company now has more than 5,000 customers. This meaningfully advances access to high-speed broadband services across rural Kentucky, and we are committed to supporting their continued growth."
"Our partnership with Forum has provided us with the capital, flexibility and expertise needed to execute our growth plan and positively impact our community by providing affordable, quality internet service and creating job opportunities for rural Kentuckians," said Kerry Bowlin, CEO of Broadlinc. "We're excited to continue our mission and further expand our network to close the digital divide."
About Broadlinc
Headquartered in Owenton, Kentucky, Broadlinc is a locally-owned and operated provider of high-quality residential and business internet, video and digital phone products through its cable, fiber, and fixed wireless networks at affordable pricing with high quality customer service. Broadlinc currently serves thousands of business and residential customers in north-east and south-central Kentucky, primarily in rural communities. For more information on Broadlinc, visit www.broadlinc.com.
About Forum
Forum is an investor, developer and asset manager operating across North America for over 25 years. Our core purpose is to deliver Extraordinary OutcomesTM 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 equity to sustainable infrastructure and essential service platforms in the middle market. We target investments that offer opportunities for positive impact, value creation and growth. For more information about Forum's private equity investment strategy, visit forumam.com/private-equity.
For further information or for interviews, please contact:
Burstyn Inc.
Amy Burstyn Fritz
amy@burstyninc.com
416-671-0710
SOURCE: Forum Asset Management
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