PE-backed Xplornet closes acquisition of Roynat backed NetSet Communications

Xplornet Communications Inc., a portfolio company of Sandler Capital, McKenna Gale Capital, Werlund Capital, has closed previously announced acquisition of the Internet access business of NetSet Communications, from Roynat Equity Partners and Charlie Clark, NetSet’s President & CEO.

Roynat Equity Partners has been a shareholder of NetSet since 2014.

Brandon, Manitoba based NetSet provides broadband services throughout the province of Manitoba.

Xplornet will maintain the NetSet Communications trade name and will retain virtually all of NetSet’s employees and business operations in both Brandon and Winnipeg.

Xplornet announced the acquisition on October 23, 2017 with closing set on October 31, 2017. Financial terms of transaction were not disclosed.

Xplornet said the acquisition, its largest to date, will accelerates its continued expansion across Western Canada. Xplornet intends to further expand NetSet’s existing services, add new products, including satellite Internet, home phone, and mobile wireless service next year.

photo credit: NetSet Communications

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.