# WaveDivision Capital, Pritzker and Stephens Partner With Management to Acquire EarthLink

> WaveDivision Capital, The Pritzker Organization and Stephens Capital Partners acquired EarthLink, an Atlanta ISP serving over 500,000 customers.

- Published: 2026-10-15T20:48:42+00:00
- Section: Mergers & Acquisitions
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-15/wavedivision-capital-acquires-earthlink
- Source: [PR Newswire](https://www.prnewswire.com/news-releases/wavedivision-capital-stephens-capital-partners-and-the-pritzker-organization-partner-with-management-to-acquire-earthlink-302910600.html)

## Key takeaways

- WaveDivision Capital, The Pritzker Organization and Stephens Capital Partners partnered with EarthLink management to acquire the Atlanta-based internet provider.
- EarthLink serves over 500,000 internet and managed services customers and can offer fiber service to more than 68 million homes nationwide.
- Trive Capital, which carved out EarthLink in 2019, will keep a minority investment in the business.

WaveDivision Capital, [The Pritzker Organization](https://akta.pro/company-profiles/00064g3/the-pritzker-organization) and Stephens Capital Partners partnered with EarthLink's management team to acquire the Atlanta-based internet provider, the companies said on October 15, 2026. Terms of the transaction were not disclosed. EarthLink serves over 500,000 internet and managed services customers nationwide.

## WaveDivision's EarthLink Acquisition

[WaveDivision Capital](https://akta.pro/company-profiles/002cvzq/wavedivision-capital), led by broadband executive Steve Weed, announced the deal alongside The Pritzker Organization and Stephens Capital Partners, according to [PR Newswire](https://www.prnewswire.com/news-releases/wavedivision-capital-stephens-capital-partners-and-the-pritzker-organization-partner-with-management-to-acquire-earthlink-302910600.html). [EarthLink](https://akta.pro/company-profiles/0008l9v/earthlink) is headquartered in Atlanta, Georgia, and offers fiber and 5G internet solutions for homes and businesses nationwide. Through partnerships with fiber and 5G providers, EarthLink has built an asset-light, nationwide network and can offer fiber internet service to more than 68 million homes nationwide.

"We are very excited to partner with the management team and employees at EarthLink to further the growth of the company. EarthLink has built a unique, asset light national broadband platform," said Steve Weed, CEO of Wave. Glenn Goad, CEO of EarthLink, said the company plans to expand its footprint into new markets alongside its fiber and 5G partners. Trive Capital, which partnered with management in 2019 to carve out the business from its former public parent, will continue to support the business with a minority investment, said Shravan Thadani, a partner at Trive. Bank Street Group served as exclusive financial advisor to WaveDivision Capital.

## WaveDivision's Broadband Investment Record

WaveDivision Capital is a Kirkland, Washington-based private investment firm founded in 2003 that invests exclusively in North American broadband infrastructure operators, according to akta.pro [company records](https://akta.pro/company-data). The firm provides capital, operating expertise and board leadership to fiber and cable providers across the U.S. and Canada, and its portfolio companies target better internet connections for homes and businesses throughout North America. In April 2025, portfolio company Mereo Networks acquired DISH Fiber Internet LLC from DISH Network Corporation and rebranded as Mereo Fiber, expanding bulk fiber connectivity across multiple U.S. regions.

## BT's TalkTalk Deal in the UK

BT Group acquired broadband operator TalkTalk out of administration on October 5, 2026, a deal expected to have a cash impact of about £400 million ($528.40 million) in fiscal 2027, [Reuters](https://www.reuters.com/business/uks-bt-group-acquires-talktalk-out-administration-2026-10-05/) reported. British culture minister Lisa Nandy intervened in the takeover, citing risks to public services and vulnerable customers, and directed the CMA to report by October 19, [Devdiscourse](https://www.devdiscourse.com/article/international/3986895-uk-intervenes-in-bts-talktalk-takeover-citing-risks-to-services) reported.

## Companies in this story

- [WaveDivision Capital company profile](https://akta.pro/company-profiles/002cvzq/wavedivision-capital) · website: https://www.wavedc.com
- [Earthlink company profile](https://akta.pro/company-profiles/0008l9v/earthlink) · website: http://www.earthlink.net
- [The Pritzker Organization company profile](https://akta.pro/company-profiles/00064g3/the-pritzker-organization) · website: https://www.pritzkerorg.com

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