Stonepeak completed the acquisition of Xplornet Communications from Sandler Capital and Catalyst Investors for $2bn.

Stonepeak Infrastructure Partners, an infrastructure-focused private equity firm, completed the acquisition of Xplornet Communications, a Canadian rural internet service provider and mobile network operator, from Sandler Capital, an alternative asset management firm, and Catalyst Investors, a growth equity venture capital firm, for $2bn. "We are excited that Stonepeak has agreed to acquire Xplornet and is strongly committed to continuing our mission of providing rural Canadians with world-class broadband services. Stonepeak's investment will position Xplornet to accelerate development of our facilities-based broadband network and services, enabling much faster speeds, including unlimited data plans at affordable prices for rural Canada," Allison Lenehan, Xplornet President and CEO.