TORONTO, May 11, 2021 /PRNewswire/ – White Cloud Communications US LLC (“White Cloud”) and Forum Equity Partners Inc. (“Forum”), announced a growth equity investment in White Cloud through a fund managed by Forum. The proceeds of the transaction will fund the further build-out of White Cloud’s broadband network infrastructure and services in rural communities across Kentucky.
“Forum has a strong track record of value creation in infrastructure development, supporting partners in developing and executing their strategic goals,” said Kerry Bowlin, President and CEO of White Cloud. “Our partnership with Forum will help us accelerate growth and continue our mission of providing rural communities in Kentucky with world-class broadband services.”
“We are excited to partner with the accomplished team at White Cloud to execute on their strategic growth plans to meet the need for high-speed broadband services across rural Kentucky. Access to high speed internet is critical to economic opportunity, job creation, education and civic engagement and many rural communities in Kentucky remain underserved,” said Duncan Ramage, Partner – Private Equity. “White Cloud is well-positioned to service the growing demand for broadband and bridge the digital divide with its high-quality, affordable offerings.”
B. Riley Securities served as financial advisor and Dinsmore & Shohl LLP served as legal advisor to White Cloud. Norton Rose Fulbright US LLP served as legal advisor to Forum.
About White Cloud Communications US LLC
Headquartered in Owenton, Kentucky, White Cloud is a locally-owned and operated provider of high-quality residential and business internet, video and digital phone products through its cable, fiber, and fixed wireless networks at affordable pricing with high quality customer service. White Cloud currently serves thousands of customers across seven counties in north-east and south-central Kentucky.
About Forum Equity Partners Inc.
Forum is an alternative asset manager with a focus on real estate, infrastructure, and private equity. Since its founding in 1996, Forum has worked with its partners to pursue value-added and opportunistic investments and achieve aggressive growth through innovation and active management. Forum is committed to exploring innovative and sustainable opportunities that deliver extraordinary outcomes to all involved. Forum’s assets under management represent approximately C$1.4 billion in enterprise value. www.forumequitypartners.com
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