Black & Veatch to serve as exclusive sales agent and industry partner
WASHINGTON, March 20, 2025 -- Grain Management, LLC ("Grain"), a leading private investment firm focused on digital infrastructure and solutions to the global broadband industry, today announced it has reached an agreement with T-Mobile and are in exclusive discussions to finalize a transaction for the acquisition of all of T-Mobile's 800 MHz spectrum, a nationwide portfolio of low-band spectrum providing an average 13.6 MHz of depth across the U.S., for a combination of cash and Grain's 600 MHz spectrum portfolio.
Grain and T-Mobile have filed for required regulatory approvals, the receipt of which will be conditions to the closing. Following the closing of the transaction, Grain initially intends to make the acquired spectrum portfolio available to U.S. utilities to support mission-critical communications, improve grid resilience, and enhance emergency response capabilities. Black & Veatch, which has experience working with more than 1,300 power utilities, will facilitate discussions with U.S. utilities to enable the implementation and operation of private wireless broadband networks for utilities across the country.
"As the energy sector undergoes rapid modernization, utilities require reliable and secure communication networks to support grid operations and disaster response," said David Grain, Founder & CEO of Grain Management. "This spectrum investment reinforces our commitment to digital infrastructure that can enable critical industries to operate more efficiently and securely."
The 800 MHz spectrum band is known for its superior propagation properties that enable extensive coverage, reliability, and in-building penetration, making it ideally suited for critical utility applications. Grain believes this spectrum offers utilities a dedicated option to enhance resilience and control over their existing communications infrastructure.
"This proposed transaction with Grain continues T-Mobile's track record of optimizing our spectrum resources for the benefit of consumers, putting this 800 MHz portfolio in the hands of a nimble private equity investor that can maximize usage of the spectrum, thus contributing to U.S. 5G leadership that is critical to our economy," said Dirk Mosa, Senior Vice President, Spectrum, Partnerships and Acquisitions for T-Mobile. "We have also already deployed most of Grain's 600 MHz portfolio of spectrum that we gained access to through this deal, further enhancing T-Mobile's customer experiences on the nation's leading 5G network in a number of key markets."
Black & Veatch will guide utilities with the end-to-end planning, implementation, and operations of their intended private LTE 5G networks. "Grain's acquisition and intended mobilization of 800 MHz of spectrum presents an opportunity for utilities to secure and protect their networks and improve efficiency and operational resiliency," said Jim Moos, president of Black & Veatch's Technology, Commercial and Industrial sector. "Our collective goal is to help utilities build and maintain dedicated networks that ensure operational security and reliability."
This acquisition underscores Grain Management's continued focus on investing in essential digital infrastructure assets that support economic growth, technological advancement, and national security.
About Grain Management
Founded in 2007, Grain Management is a leading, global investment firm. We believe broadband and digital infrastructure are foundational to the tech-enabled transformation occurring across all industries and facets of society. Our global team of seasoned and diverse professionals share a collective passion for the power of connectivity to strengthen communities and unlock human potential for all.
We specialize in digital infrastructure and are a trusted solutions provider to the broadband and communications industry. Our unique combination of sector knowledge, experience as operators, and disciplined analytical approach guide our differentiated investment strategy across fiber networks, data centers, wireless spectrum, cell towers, as well as managed and infrastructure services.
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