Trive Capital Announces Sale of EarthLink

DALLAS, Oct. 20, 2026 /PRNewswire/ -- Trive Capital ("Trive") is pleased to announce that it has closed on the sale of EarthLink, LLC ("EarthLink" or the "Company") to a family office consortium consisting of WaveDivision Capital ("Wave"), The Pritzker Organization ("TPO") and Stephens Capital Partners ("SCP"), in partnership with EarthLink's management team. Headquartered in Atlanta, Georgia, EarthLink is one of the largest internet service providers in the United States, serving over 500,000 internet and managed services customers nationwide. Through partnerships with several of the nation's largest fiber and 5G providers, EarthLink has built an asset-light, nationwide network that can offer fiber internet service to more than 68 million homes.

Since Trive's investment in EarthLink in 2018 as part of a corporate carveout, the Company has transformed from a legacy DSL and email business in precipitous decline to an asset-light connectivity platform serving over 500,000 consumers and small businesses nationwide. The Company has grown and will continue to grow based on its expanded fiber and 5G internet solutions and commitment to customer service for consumers and small businesses.

Shravan Thadani, Partner at Trive, stated, "EarthLink has been a true partnership between management and Trive in every sense of the word. The team built a differentiated, asset-light platform that gives consumers and small businesses real choice in how they get connected, and did so while standing up every function of the platform outside of its former, public parent. We are proud to have been a part of such an iconic brand's journey and will continue to support Wave, TPO and SCP as they work with management to accelerate growth in the coming years."

"During our partnership with Trive, we have taken one of the most trusted brands in the internet space and turned it into a trusted option for consumers and small businesses nationwide," commented Glenn Goad, Chief Executive Officer of EarthLink. "As internet access has become one of the most important utilities in a consumer's life, EarthLink has a renewed focus on making it easier for our customers to access the best internet options at affordable prices. Trive was critically important through and after the carve-out, and we are excited to partner with Wave, TPO and SCP to continue to grow EarthLink alongside our trusted fiber and 5G partners. Our collective goal remains the same: to provide the right technology at the right price, supported by a world-class customer experience."

About EarthLink

EarthLink is an internet service provider offering fiber and 5G internet solutions for homes and businesses nationwide. With a focus on dependable connectivity, flexible plans, and customer-focused service, EarthLink provides broadband options designed to meet the needs of modern households and businesses. EarthLink is headquartered in Atlanta, Georgia and serves over 500,000 customers. To learn more, visit earthlink.net.

About Trive Capital

Trive Capital is a Dallas, Texas based private equity firm with more than $8 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement.

The Trive team is comprised of seasoned investment professionals who have been involved in over 250 middle-market transactions representing in excess of $10 billion in revenue across Trive's targeted industry sectors and situations.

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SOURCE Trive Capital