Seaport Capital completes sale of Everest Broadband to SureWest
February 1, 2007
Seaport Capital has completed the sale of Everest Broadband to SureWest Communications (Nasdaq: SURW) for $173 million. This sale resulted in Seaport generating 3.3 times its investment and 99.4% IRR. Everest, acquired by Seaport Capital Partners III in June 2006, increased monthly provider EBITDA over 50% during Seaport’s ownership. Everest is a competitive provider of high-speed data, video, and voice services in the greater Kansas City area.