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Press release · October 20, 2026 · prnewswire.com

Trive Capital closes EarthLink sale to family office group

Summary

Trive Capital, a Dallas-based private equity firm, has closed the sale of EarthLink, LLC to a family office consortium composed of WaveDivision Capital, The Pritzker Organization, and Stephens Capital Partners. The transaction shifts ownership of the Atlanta-based internet provider to a new group of investors, with EarthLink's management team alongside them.

Trive invested in EarthLink in 2018 as part of a corporate carveout. Since then, the company has moved away from a legacy DSL and email business in steep decline and become an asset-light connectivity platform. It now serves more than 500,000 consumers and small businesses across the country, and its growth reflects expanded fiber and 5G internet offerings and a focus on customer service.

EarthLink operates through partnerships with several of the country's largest fiber and 5G providers. Those arrangements support an asset-light network that spans the nation and can offer fiber internet service to more than 68 million homes. The company is headquartered in Atlanta, Georgia.

Shravan Thadani, Partner at Trive, said, “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.”

Glenn Goad, Chief Executive Officer of EarthLink, said, “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.”

Trive will continue to support Wave, TPO, and SCP as they work with management to accelerate growth in the coming years.

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