LITTLE ROCK, Ark., Dec. 31, 2018 (GLOBE NEWSWIRE) — Windstream (NASDAQ: WIN), a leading provider of advanced network communications and technology solutions, today announced that it has sold the legacy EarthLink consumer internet business.

Windstream acquired the business in its merger with EarthLink in February 2017.

Trive Capital, a Dallas-based private equity firm, purchased the business for $330 million in cash.

“This transaction enables us to divest a non-core segment and focus exclusively on our two largest business units. In addition, it improves our credit profile and metrics in 2019 and beyond,” said Tony Thomas, president and CEO of Windstream.

The legacy EarthLink consumer internet business offers internet access, online back-up, managed web design, web hosting and various email services to over 600,000 customers throughout the United States.

“We are excited to partner with and support the EarthLink management team in continuing to provide great products and services available to millions of households in the United States,” commented Trive Managing Partner, Conner Searcy. “We intend to provide additional resources and access to deep industry relationships to help grow the brand in the coming years.”

About Windstream

Windstream Holdings, Inc. (NASDAQ: WIN), a FORTUNE 500 company, is a leading provider of advanced network communications and technology solutions. Windstream provides data networking, core transport, security, unified communications and managed services to mid-market, enterprise and wholesale customers across the U.S. The company also offers broadband, entertainment and security services for consumers and small and medium-sized businesses primarily in rural areas in 18 states. Services are delivered over multiple network platforms including a nationwide IP network, our proprietary cloud core architecture and on a local and long-haul fiber network spanning approximately 150,000 miles. Additional information is available at windstream.com or windstreamenterprise.com. Please visit our newsroom at news.windstream.com or follow us on Twitter at @Windstream or @WindstreamBiz.

About Trive Capital

Trive Capital is a Dallas, Texas based private equity firm managing over $2 billion in capital. 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. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 70 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.