April 14, 2025 – CLEVELAND – Everstream, a business-only fiber network, today announced that it has reached a definitive agreement to sell select network assets in the state of Illinois to Midwest Fiber Networks (MWFN), a provider of high-capacity, fiber-based communications networks. This transaction follows the sale of Everstream’s all-fiber network in the St. Louis metropolitan area last year.
“MWFN is uniquely suited to provide and expand the high-quality services that Everstream customers in Illinois expect, and this transaction further advances our core market optimization strategy,” Everstream CEO Ken Fitzpatrick said.
“This acquisition marks an exciting milestone in our mission to bring powerful, competitive fiber solutions to more communities,” said Nik Ivancevic, Managing Partner of Midwest Fiber Networks. “We’re excited to welcome Everstream’s Illinois-based customers to the MWFN family.”
The financial terms of the transaction were not disclosed. The transaction, which is subject to certain third-party approvals, is expected to close in the second quarter of 2025.
PJT Partners and Bank Street Group are serving as financial advisors to the Company in connection with this transaction. Weil, Gotshal & Manges LLP and Morgan Lewis are acting as lead counsel and regulatory counsel, respectively, to Everstream.
Brown Gibbons Lang & Company (BGL) is acting as the exclusive financial advisor and Godfrey & Kahn, S.C. is acting as legal counsel to MWFN.
About Everstream®
Everstream has raised the bar for business connectivity, delivering a business-only fiber network with the speed, reliability, scale and performance that today’s enterprises demand. With approximately 25,000 route miles of fiber and speeds up to 100 Gbps, Everstream’s enterprise-grade network delivers robust business fiber services, including dedicated internet access, dark fiber, Ethernet and data center solutions. Through its “Do What You Say You Will Do” approach, Everstream is a valued partner dedicated to the success of business customers. For more information, visit everstream.net.
About Midwest Fiber Networks
Midwest Fiber Networks (MWFN) designs and delivers secure, high-speed fiber connectivity across the Midwest with a focus on reliability, redundancy, and customer satisfaction. With deep roots in telecommunications infrastructure and decades of experience, MWFN supports mission-critical operations for businesses, educational institutions, healthcare systems, and government entities. Through strategic partnerships and a rapidly growing footprint, MWFN is building the future of fiber—one mile at a time. For more information, visit midwestfibernetworks.com.