Houlihan Lokey Advises EnTouch Systems

Houlihan Lokey is pleased to announce that EnTouch Systems, Inc., has signed a definitive agreement to be acquired by TPG Capital’s RCN Telecom Services, LLC, Grande Communications, and Wave Broadband (RCN, Grande, and Wave). The transaction is undergoing regulatory approval and is expected to close by July 2020.

EnTouch Systems is a full-service provider of broadband, TV, voice, security, and home automation services over its own robust fiber-optic network. EnTouch services residential and commercial customers in the Greater Houston area. The company primarily serves the Cypress, Katy, Missouri City, Spring, and Sugar Land areas of Houston, Texas.

RCN, Grande, and Wave form the sixth largest U.S. cable operator and provide industry-leading high-speed internet, broadband products, digital TV, phone services, and fiber optic solutions for residential and business customers across the United States. Together, RCN, Grande, and Wave serve areas of Massachusetts, Chicago, Pennsylvania, New York City, and Washington, D.C. (RCN); Texas (Grande); and Washington, Oregon, and California (Wave).

This acquisition will expand RCN, Grande, and Wave’s fiber-rich network by 1,400 miles and add 22,000 residential and business customers in Houston. Entering Houston will solidify the companies’ presence in eight of the top 10 designated market areas in the U.S.

Houlihan Lokey served as the exclusive financial advisor to EnTouch. Houlihan Lokey assisted in initiating, structuring, and negotiating the transaction on behalf of the company. This transaction highlights Houlihan Lokey’s position as a leading advisor within the telecom industry and ability to manage multiple stakeholders and complex deal dynamics.

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