Trive Capital Completes Sale of EarthLink to Family Office Group
Dallas-based Trive Capital has closed the sale of EarthLink to a consortium including WaveDivision Capital, The Pritzker Organization, and Stephens.
Trive Capital, the Dallas-based private equity firm, has finalized the sale of EarthLink, LLC to a family office consortium made up of WaveDivision Capital, The Pritzker Organization, and Stephens, the company announced Monday.
The transaction marks an exit for Trive Capital from the internet services provider, which operates under the EarthLink brand. The buying consortium brings together three established investment organizations, signaling continued institutional appetite for established connectivity and broadband-adjacent businesses.
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WaveDivision Capital is known for its focus on telecommunications and broadband infrastructure investments, while The Pritzker Organization represents the private investment arm of one of America's prominent business families. Stephens, the Arkansas-based financial services firm, rounds out the acquiring group, lending additional financial and operational depth to the consortium.
The deal underscores a broader trend of family offices and private capital vehicles pursuing mature, cash-generating technology and internet infrastructure assets as alternatives to traditional private equity buyouts. EarthLink, once a major consumer internet service provider, has evolved its business model over the years to serve enterprise and wholesale connectivity markets.
Financial terms of the transaction were not disclosed. Continue reading at All Financial Services & Investing.
