WANRack Announces Definitive Agreement to Acquire KwiKom Communications
WANRack, LLC (“WANRack”), a national leader of custom fiber optic network deployments headquartered in Overland Park, Kansas, has entered into a definitive agreement to acquire Iola, Kansas-based JMZ Corporation d/b/a KwiKom Communications (“KwiKom”). KwiKom builds and operates fiber optic and fixed wireless broadband networks that serve residential and business customers in Kansas, Missouri, Oklahoma and Nebraska. The two companies will continue operating under their respective brands following the acquisition.
The financial terms of the transaction were not disclosed. The closing of the agreement is subject to closing conditions and customary regulatory approvals and is expected to be completed in the first quarter of 2023.
"We are extremely excited to welcome KwiKom into the WANRack family,” said Mike Brigman, WANRack's President & Chief Operating Officer. "KwiKom has a proven track record of stellar customer service and capacity to expand. Their high-caliber team and impressive services portfolio align perfectly with WANRack's vision for growth.”
Zach Peres, President of KwiKom stated, "KwiKom's mission is to connect communities, big and small. Our team has built a great network and business over the past 10 years, and we are geared up for future growth! In partnership with WANRack and their financial partner, CBRE Investment Management, we will now be able to exponentially advance our strategic goals. The two companies are an excellent fit!"
Noi Spyratos, Managing Director of CBRE IM Private Infrastructure stated, “We’re excited to support the continued growth of our portfolio company WANRack through the acquisition of KwiKom. This transaction will enhance WANRack’s presence in Kansas and beyond, and expand our service offerings to now include FTTx capabilities.”
TD Securities acted as the exclusive financial advisor to WANRack on the transaction.
About WANRack
WANRack provides high-bandwidth, fiber-based infrastructure and related services to schools, hospitals, libraries, enterprise and carrier customers throughout the continental United States. Service offerings include E-Rate-compliant lit fiber, dark fiber, and special construction solutions. Headquartered in Overland Park, Kansas, the company provides bespoke fiber solutions, which eliminates countless points of failure found in typical legacy networks. To learn more about WANRack, visit www.wanrack.com.
About JMZ Corporation, d/b/a KwiKom Communications
KwiKom provides internet and voice services today, with video service launching in the first quarter of 2023. Founded in 2010, KwiKom’s ever expanding network services an area of more than 30,000 square miles, across 75 counties in four states. For the last five years, KwiKom has been expanding into gigabit fiber network services to homes and businesses across multiple markets in Kansas. To learn more about KwiKom, visit www.KwiKom.com.
