1248 Holdings Completes Acquisition of Generate Capital's Ownership Interest in Ubiquity
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1248 Holdings Completes Acquisition of Generate Capital's Ownership Interest in Ubiquity

KANSAS CITY, Mo., Nov. 2, 2026 /PRNewswire/ -- 1248 Holdings, a family-owned private investment company, today announced that it and certain of its affiliates have acquired Generate Capital's ownership interests in Ubiquity, a fiber network owner operating in Texas and Nebraska. Terms of the transaction were not disclosed.

An investor and founding partner in Ubiquity, 1248 will provide additional capital to support the company's long-term growth, including continued investment in FiberFirst, its internet service provider brand. Ubiquity's fiber networks serve more than 200,000 addresses, primarily serving high growth corridors in Dallas-Fort Worth, Austin and Omaha. Ubiquity successfully sold its California and Arizona network assets earlier in the year.

Since its launch in 2023, the FiberFirst® brand has added tens of thousands of residential, small business and commercial customers to the network. Ubiquity's networks also support wholesale connectivity, multi-dwelling unit properties and educational institution through the federal E-rate programs across the footprint.

"We have been partners with Ubiquity since the beginning and continue to believe in the core business model and the Ubiquity team. This acquisition will enable us to more materially support Ubiquity's long-term growth initiatives in Texas and Nebraska. We are especially excited about the potential within the FiberFirst® brand and are confident in its long-term success. Customers, partners and employees can expect day-to-day operations to continue without interruption, with a strong foundation behind it," said Christian Scharosch, Managing Director at 1248 Holdings.

Operations are continuing without interruption following the change in ownership. Greg Dial, Ubiquity's former Chief Revenue Officer, has assumed the role of Chief Executive Officer of Ubiquity and FiberFirst. In addition, all other key employees remaining committed to the future of Ubiquity, including Sean Tokic and Pankaj Gulati, who are now serving as Chief Financial Officer and Chief Operation Officer, respectively.

"I am thrilled to continue this journey alongside 1248. Our team of seasoned network operators and service provider professionals are poised to continue serving our customers and communities with 100% fiber-driven connectivity," Dial said.

"Generate Capital is proud of what Ubiquity has accomplished and confident that 1248 is well positioned to build on Ubiquity's strong foundation and support the company's next chapter," said Laxman Ramu, Managing Director at Generate Capital.

Bank Street Group served as financial advisor to Ubiquity, with Kirkland & Ellis LLP and Cooley LLP serving as legal counsel. Polsinelli served as legal counsel to 1248 Holdings. Proskauer Rose LLP served as legal counsel to Generate Capital.

About 1248 Holdings

1248 Holdings is a family-owned private investment company that makes and manages direct investments in operating businesses, funds, late-stage venture, private equity and real estate.

About Ubiquity / FiberFirst

Ubiquity owns and operates last-mile fiber networks across multiple states, passing more than 200,000 addresses. Through its FiberFirst® brand, Ubiquity delivers 100% fiber internet to residential, small business and commercial customers. Ubiquity's networks also support wholesale connectivity for internet service providers, wireless carriers, utilities and municipalities, as well as multi-dwelling property and educational institution (ERATE) customers.

About Generate Capital

Generate Capital is an investor and operator providing reliable and affordable energy and infrastructure solutions to customers and communities. Founded in 2014, Generate develops, finances, builds, owns and operates critical infrastructure that helps customers access reliable power and essential services in an increasingly constrained world. With expertise across technologies and infrastructure sectors, Generate combines flexible capital with hands-on operating capabilities to deliver solutions tailored to customer needs. Since inception, Generate has raised more than $10 billion in capital and built a proven track record across critical infrastructure assets.

SOURCE 1248 Holdings

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QA FAIL (need review): The target states 'Four advisory firms handled the transaction' but then lists five distinct advisory/legal firms (Bank Street Group, Kirkland & Ellis LLP, Cooley LLP, Polsinelli, Proskauer Rose LLP), contradicting the source and introducing an unsupported factual count.
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<p>KANSAS CITY, Mo., Nov. 2, 2026 /PRNewswire/ -- 1248 Holdings, a family-owned private investment company, today announced that it and certain of its affiliates have acquired Generate Capital's ownership interests in Ubiquity, a fiber network owner operating in Texas and Nebraska. Terms of...</p>

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