The recent acquisition of Riviera Utilities’ residential cable and internet business by Point Broadband marks a significant moment not just for the companies involved but for the consumers expecting improved service. With a legacy in Foley, Alabama, spanning over a century, Riviera Utilities has long been a cornerstone in providing essential services such as electric, water, wastewater, and natural gas to Baldwin County’s fast-growing population. Now, these customers can look forward to a new chapter of technological advancement spearheaded by Point Broadband.
Acquisition Details
Riviera Utilities’ CEO Brian Skelton expressed deep gratitude to the dedicated employees and loyal customers who have supported the company over the years. Skelton reassured stakeholders that the transition to Point Broadband would uphold the high standards of service that Riviera Utilities’ clientele has come to expect. Notably, this acquisition received the green light from crucial governance bodies—the Riviera board of directors in late August and the Foley City Council in early September.
Upgrade Plans
With the acquisition finalized, Point Broadband wastes no time as it sets its sights on ambitious upgrade plans. The company intends to break ground immediately on an all-fiber network, promising significant advancements in internet speed and reliability for both residential and commercial customers. This critical next step means that customers who were previously under the service umbrella of Riviera Utilities can expect to see marked improvements in their internet services in the near future.
Company Background
Point Broadband, founded in 2017, has rapidly expanded its footprint to operate across ten U.S. states, including Alabama. The company focuses on delivering Gigabit broadband solutions to rural and underserved communities. This growth has been fueled by substantial investments from Berkshire Partners and GTCR, enabling Point Broadband to accelerate its fiber network deployments. The infusion of capital not only cements the company’s financial stability but also underscores its commitment to extending high-speed internet connectivity to previously overlooked areas.
Strategic Vision
Patricia Martin, CEO of Point Broadband, has articulated a clear and ambitious vision for the company’s future. Martin emphasizes the importance of extending the network across south Alabama to substantially enhance broadband quality and customer service. These efforts are seen as pivotal in providing robust, reliable internet access, which is increasingly considered an essential utility in today’s world.
Market Impact
The acquisition of Riviera Utilities’ residential cable and internet division by Point Broadband marks a major milestone, not only for the companies but also for consumers anticipating enhanced services. Riviera Utilities, with a rich legacy extending over a century in Foley, Alabama, has been a vital provider of essential services like electric, water, wastewater, and natural gas to the rapidly growing population of Baldwin County. This acquisition promises a new era of technological advancements for these customers.
Having provided reliable services for decades, Riviera Utilities has built a strong reputation in the community, making this transition noteworthy. Point Broadband’s involvement is expected to bring updated and improved internet and cable solutions, meeting the demands of modern consumers. With Point Broadband at the helm, residents can expect faster, more reliable connectivity, and cutting-edge technologies that were previously out of reach. This partnership aims to enhance user experience significantly, ensuring that Baldwin County stays at the forefront of technological innovation in the utilities sector.
