Trive Capital sells EarthLink to WaveDivision, Pritzker and Stephens

Trive Capital has closed the sale of Atlanta-based internet provider EarthLink to a family office consortium of WaveDivision Capital, The Pritzker Organization and Stephens Capital Partners, alongside management. EarthLink serves over 500,000 customers and can offer fiber service to more than 68 million homes through partnerships with major fiber and 5G providers. Terms were not disclosed.

Why it matters: Trive turned a 2018 carveout from a declining DSL business into an asset-light nationwide connectivity platform, and the new owners plan to accelerate its growth.