PhireLink Set to Provide Fiber and Wireless Connectivity Across Rural America

The Avery Companies and TFRA (Technology for Rural America) are excited to announce the launch of PhireLink, a strategic joint venture aimed at enhancing high-speed internet accessibility throughout rural and underserved regions of the United States.

PhireLink will narrow the digital divide by providing high-quality internet connectivity through fiber and wireless access. The Company plans to leverage acquisitions and organic growth to amplify its service footprint.

PhireLink is led by Glen F. Post, former Chairman and CEO of CenturyLink, who over four decades built CenturyLink into one of America's largest broadband internet service providers. Mr. Post led CenturyLink's expansion into fiber networks and successfully completed mergers and acquisitions in excess of $40 billion.

Glen Post, Chairman and CEO of PhireLink, stated: "The launch of PhireLink marks a new chapter in our quest to deliver superior, dependable communication services to rural America's underserved communities. This initiative is not only the foundation of our growth but also embodies our conviction that access to the internet is an essential need for every American."

Benjamin A. Friedman, Managing Partner at The Avery Companies, shared his perspective: "We are excited to partner with Glen Post and his team of experienced telecom pioneers to build PhireLink into the premier internet service provider for America's rural and underserved locales. We look forward to executing on our robust pipeline of organic growth and acquisition opportunities."

This joint venture underscores the significant potential to address the digital disparities in rural America by delivering reliable and swift internet service. PhireLink is poised to invigorate communities through enhanced economic prospects, educational accessibility, and quality of life improvements, playing a crucial role in overcoming rural connectivity challenges.

The transaction is slated to close in the first half of 2024. PhireLink has engaged Telecom Partners Group for due diligence and evaluation of network assets in relation to the transaction, with Honigman LLP providing legal counsel. King & Spalding advised The Avery Companies.