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Private equity firm completes $1.6B acquisition of RCN

Feb 06, 2017 - ICT Monitor Worldwide

RCN, one of the Lehigh Valley`s two cable TV companies, has a new owner.

TPG Capital, a private equity firm co-headquartered in Fort Worth, Texas, and San Francisco, on Wednesday said it has completed its previously announced acquisition of RCN Telecom Services LLC from Abry Partners for $1.6 billion. TPG also closed on its $650 million deal to acquire Grande Communications Networks, which serves several areas in Texas, from Abry.

In a news release, TPG said combining RCN and Grande,...