Stonepeak to Buy TPG’s Cable Unit Astound for $8.1 Billion (3)

Stonepeak Infrastructure Partners said it would acquire Astound, the sixth-largest U.S. cable and broadband provider, from private equity firm TPG for $8.1 billion including debt.

TPG is selling the company, which serves over a million customers under the brands RCN, Grande, Wave and enTouch, after it built it up through a series of acquisitions starting in 2016.

“We are very eager and excited to partner with a premier investor such as Stonepeak to further accelerate our growth and take our companies to new levels of customer satisfaction and performance,” Astound Chief Executive Officer Jim Holanda said in a statement that ...