Palisade Infrastructure has successfully concluded the acquisition of Mashell, the parent company of Rainier Connect. The latter, a fiber and hybrid fiber coaxial (HFC) broadband provider in Washington State, will now operate under Palisade’s new Lightcurve brand.
In a statement Palisade said the rebranding represents the “beginning of significant investments in the fiber optic internet infrastructure.” The infrastructure investment company originally announced its plans to acquire Rainier Connect in December 2022.
Lightcurve currently serves Tacoma, Eatonville, Centralia, Chehalis and Graham in Washington. Palisade said that over the coming months, it will make upgrades to the current network and invest in expansion to new markets across several counties in the state including Pierce, King, Lewis, Snohomish and Thurston.
Anand Vadapalli, who served as an advisor to Palisade for the deal and has assumed the role of Lightcurve CEO, commented on the potential of having a long-term investor. "For Lightcurve, having a long-term investor like Palisade Infrastructure provides the foundation to make significant investments in fiber optic networks and offer our customers and communities fast reliable internet from people they can trust," said Vadapalli.
"There’s a huge hole in the rural and under-resourced communities that needs to be filled with broadband, and we are committed to closing the digital divide," added Mike Reynolds, Palisade’s managing director, Americas.
The deal is a first step in the creation of a “regional platform for fiber and high-speed broadband connectivity," said Reynolds.
Reynolds added Palisade's commitment to Lightcurve was underscored by its recent acquisition of some Consolidated Communications assets, which he said will reinforce Lightcurve's role as a broadband provider in the region.
Palisade and Consolidated announced the agreement in August where Palisade, on behalf of its managed funds, will acquire Consolidated’s assets in Washington state. That transaction included Consolidated’s incumbent networks in Ellensburg and Yelm, made up of a mixture of fiber-to-the-home (FTTH) and DSL technologies. At the time, Palisade said the transaction will expand its fiber investments in the state.
“Palisade intends to accelerate the build out of the fiber network in these markets, providing high speed, low latency connectivity to households and businesses,” the company said in a statement at the time.
Reynolds said in that announcement, “We are excited to expand our fiber broadband platform in Washington State, in attractive markets that are in proximity to the Rainier Connect network. We look forward to continuing to grow the platform in future.”
Aside from the Rainier Connect and Consolidated transactions, Palisade in June invested in the PureSky Energy community solar platform. Additionally, Palisade said it is gearing up to launch a new North American diversified infrastructure fund, with “an initial focus on digital connectivity and energy transition in the coming months.”