Nelnet: SDC Managed Funds To Make Equity Investment In ALLO - Quick Facts

(RTTNews) - Nelnet (NNI) has entered into agreements to partner with SDC Capital Partners, in which funds managed by SDC will make a $197 million equity investment in ALLO Communications, a Nelnet company, for an approximately 48% ownership stake in ALLO.

ALLO specializes in providing communications services by creating gigabit communities. In 2004, ALLO began building its first fiber communities, and currently provides fiber networks in 12 communities supported by more than 500 associates. Nelnet acquired 92.5 percent of the outstanding equity and membership interests of ALLO on December 31, 2015.