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Controlling Share Of Allo Communications Sold To Private Equity Firm

  Lincoln-based Nelnet has sold a controlling share of Allo Communications to a private equity firm, SDC Capital Partners.

The $197-million dollar deal gives SDC a 48% ownership stake in Allo. 

      Nelnet had purchased 92.5% of the outstanding equity in Allo in December 2015. The new partnership agreement with SDC is expected to close by the end of the month.

      Both firms say the $197-million dollar deal provides funds needed for future expansion and growth in the midwest for the fiber telecommunications company. New third-party debt will also be obtained for the expansion. 

      Allo has been building modern fiber networks in Nebraska and northeast Colorado since 2004 in addition to providing traditional phone service.