From staff reports
San Marcos-based Grande Communications Holdings is putting itself up for sale, an Internet-based communications trade publication reports.
The company hired New York-based cable investment banker Waller Capital Corp. “to explore strategic opportunities, including a possible sale,” Multichannel News reported yesterday, quoting unnamed executives.
Grande was founded in 1999 by William E. Morrow, former chairman and CEO of West Point, Ga.-based overbuilder Knology Holdings. Morrow left Grande in 2006 to devote more time to his other telecom investments. In 2006, Grande hired former Sprint Nextel senior vice president of national field sales and general business Roy Chestnutt as its chief executive officer.
Grande is the city’s fifth largest employer with 850 employees, about 350 of which work at the company’s corporate headquarters off River Ridge Parkway.
In November 2006, the city council approved a deal to pay the company up to $175,000 for creating 40-60 fulltime positions to staff an expanded call center. Under the agreement, the city pays Grande $2,500 for each full-time position it creates and keeps filled for at least a year ending in September 2008. The grant increases to $5,000 for employees that live in or relocate to San Marcos.Email | Print