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Consumer Cellular Sells Majority Stake to Private Equity Firm GTCR

  • Deal is said to value the mobile service at roughly $2 billion
  • Its mobile-service plans are popular with older consumers
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GTCR, the Chicago-based private equity group, is buying a majority stake in Consumer Cellular Inc., the wireless company that’s popular with customers over age 50.

The deal values the closely held mobile company at roughly $2 billion, according to people with knowledge of the matter, who asked not to be identified because they weren’t authorized to speak publicly. John Marick, the carrier’s co-founder and chief executive officer, declined to disclose the terms.