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.   

Related posts