Shenandoah Telecommunications completed the acquisition of Horizon Telcom from GCM Grosvenor and Energy Capital Partners for $385m.

Shenandoah Telecommunications, a broadband services provider, completed the acquisition of Horizon Telcom, a commercial fiber provider, from GCM Grosvenor, a global alternative asset management solutions provider, and Energy Capital Partners, an equity and credit investor, for $385m. “The acquisition of Horizon is a transformative transaction that we believe will allow us to accelerate our Fiber First strategy by doubling the size of our commercial fiber business and creating a new beachhead for our Glo Fiber business. We now expect to pass 150k additional homes with fiber in greenfield markets, targeting 600k total passings by the end of 2026. We are excited to combine Horizon’s robust fiber network and commercial fiber business with our 9k route-mile, multi-state fiber network and accelerate our Glo Fiber expansion. Horizon and Shentel share a similar history and a passion for outstanding local customer service while providing state-of-the-art technologies. We believe our teams’ core competencies will complement one another, translating to a stronger combined business,” Christopher E. French, Shentel President and CEO.