Press Release

Kirkland Represents ABRY Partners on Sale of RCN Telecom Services and Grande Communications Networks to TPG Partners and Google Capital for $2.25 Billion

Kirkland advised ABRY Partners in connection with the sale of two of its portfolio companies, RCN Telecom Services, LLC and Grande Communications Networks, LLC in a combined transaction to TPG Partners VII, L.P.  and Google Capital for $2.25 billion.  Grande Communications Networks is a fast growing Texas-based broadband communications company that offers a full suite of Internet, TV and phone services.  RCN Telecom Services is an American facilities-based ("overbuild") provider of bundled telephone, cable television, and internet service delivered over its own fiber-optic local network as well as dialup and DSL internet service to consumers in the Boston, New York, Eastern Pennsylvania, Washington, D.C., and Chicago areas.  TPG Partners and Google Capital will combine the assets to create a top ten U.S. cable company and a regional market-leading provider of next-generation, high-speed data to residential and business customers. The full release is available here.

The Kirkland team was led by corporate partners Armand Della Monica and Constantine Skarvelis with associates Mike Miller, Daniel Tavakoli, Ananda Mehta and Micah Kantrowitz. Also working on the transaction were capital markets partners Josh Korff and Brian Hecht, debt finance partner Ashley Gregory, tax partner Vincent Thorn and associate Vivek Ratnam, executive compensation partner Michael Krasnovsky and associate Ian Sherwin, employee benefits partner Alexandra Mihalas and associate Scott Metzger, labor partner Matthew Keiser and associate Michael Schulman, technology/IP transactions partner Edward Sadtler and associate Daisy Darvall, environmental partner Jonathan Kidwell and real estate partner Jennifer Sheehan.