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NEW YORK and CEDAR RAPIDS, IOWA — The Infrastructure investing business within Goldman Sachs Asset Management completed an acquisition of ImOn Communications, LLC (“ImOn”), one of the fastest-growing fiber-to-the-premise (“FTTP”) broadband companies in eastern Iowa. The completion of this acquisition enables ImOn’s management team to continue the company’s ambitious growth in Eastern Iowa markets.
As part of the transaction, Goldman Sachs Asset Management will make new investments to help accelerate ImOn’s growth in FTTP data, video, and voice services to homes and businesses throughout eastern Iowa and surrounding markets.
ImOn was advised by Bank Street Group, Shuttleworth & Ingersoll, and Morgan Lewis & Bockius. Goldman Sachs Asset Management was advised by TD Securities and Simpson Thacher & Bartlett. TD Securities also served as Lead Arranger on the debt financing for the transaction.
Based in Cedar Rapids, Iowa, ImOn Communications is a leading broadband provider delivering ultra-high-speed internet, video and voice services to residential and commercial customers. ImOn’s growth and success over the past decade are thanks to its reputation for a cutting-edge network, exceptional customer service, experienced, knowledgeable, and friendly personnel, and superior products. Our philosophy is the same today as it was when we started, to offer top quality products and services, provide the highest level of customer service, employ local people, and support the communities we serve. ImOn is locally headquartered and operated and offers customers tremendous value and choice for services. For more information regarding ImOn Communications, visit www.ImOn.net.
About Goldman Sachs Asset Management Infrastructure business:
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of December 31, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 2006, the Infrastructure business within Goldman Sachs Asset Management has consistently navigated the evolving infrastructure asset class, having invested approximately $15 billion in infrastructure assets across market cycles since its inception. We partner with experienced operators and management teams across multiple sectors, including digital infrastructure, energy transition, transportation & logistics and essential services. Follow us on LinkedIn.
Lisa Rhatigan, ImOn
Lisa.Rhatigan@ImOn.net | (319) 200-4703
Avery Reed, Goldman Sachs
Avery.Reed@gs.com | (212) 902-5400