Press Release January 30, 2023
Tahoe Network Infrastructure Acquires
Regional Fiber and Fixed Wireless Provider E-Vergent
Spokane, WA. – January 30, 2023: Tahoe Network Infrastructure LLC (“Tahoe”), a fiber optic broadband investment company, has acquired Wisconsin-based regional fiber and fixed wireless provider E-Vergent for $11.2 million. E-Vergent operates extensive fiber and fixed wireless networks in the communities south of Milwaukee and north of Chicago. The acquisition was financed with a combination of $6.5 million of senior debt, a seller note, and equity from Tahoe.
“This acquisition perfectly complements our strategy to acquire small, fiber-based internet service providers in underserved markets,” stated Gregory Green, Chairman of Tahoe. “E-Vergent has over 25 years of operating history providing fiber and cutting edge fixed wireless technology to over 1 million residential and commercial subscribers in ten counties from Milwaukee to Chicago. They deliver internet service from more than 100 towers and have successfully increased service speeds to customers in each of the last four years. We look forward to expanding the business with targeted consumer and business marketing campaigns to increase penetration of our existing fiber routes and have committed to investing another $10 million in expanding E-Vergent’s regional footprint. At the same time, Tahoe will continue to look for acquisitions in the fiber space, including partnering with rural electric utilities and cities looking for a financially sound broadband partner.”
Joe Falaschi former owner of E-Vergent stated, “Tahoe and its management team have a strong record in founding and operating successful telecom companies. They have the financial capability and experience to propel this business to the next level which, ultimately is what it’s all about. I feel confident that Greg and his team have what it takes to bring growth, opportunity, and success to E-Vergent.”
Concentra Capital Group acted as exclusive financial advisor to Tahoe and arranged $6.5 million of senior debt to finance its acquisition of E-Vergent. Joe Adipietro, managing partner of Concentra Capital, said “It’s been terrific working with Tahoe on this acquisition financing. Greg and his team are world class professionals who have a deep knowledge of the broadband industry and an impressive track record of success. Greg’s vision for transforming E-Vergent into a leading hybrid fiber-wireless internet service provider is timely and very compelling. I look forward to continuing this journey with Greg and his outstanding team.
Tahoe Network Infrastructure is a Washington-based LLC that specializes in the construction of private fiber optic networks and the acquisition of wireless internet service providers with fiber development plans. It is wholly owned by Greg Green who has over 25 years’ experience in the telecommunications sector with companies such as NEXTLINK, Avista Communications and OneEighty Communications. Mr. Green maintains a minority interest and seat on the board of directors at Fatbeam LLC, which he co-founded in 2010 that focuses on fiber optic and broadband investments in the Western United States. Tahoe seeks to replicate that success through organic development and strategic broadband acquisitions, in an effort to build a respected broadband provider in the Mid-West.