MetroNet Announces New Investments from Oak Hill Capital and KKR
New Funding will Accelerate Deployment of Fiber-Based High Speed Broadband Networks to Communities Across the U.S.
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EVANSVILLE, Ind., April 21, 2021 /PRNewswire/ MetroNet today announced that funds managed by leading global investment firm KKR will be joining long-time partner, Oak Hill Capital, and management as investors in MetroNet. As part of the transaction, Oak Hill and KKR will each make new investments to help accelerate MetroNet s growth in building and connecting fiber-to-the-premise (FTTP) data, television, and telephone services to homes and businesses. This year, MetroNet launched services in its 9
Global buyout house KKR has bought into private equity-backed fibre-optic communications business MetroNet.
KKR and existing backer Oak Hill Capital said they would make new investments in MetroNet to help it grow its fiber-to-the-premises (FTTP) data, television, and telephone services to homes and businesses.
Oak Hill has been working with MetroNet since 2014. Its other fibre broadband investments in the US include Vexus Fiber, a rapidly expanding provider in Texas and surrounding states, Future Fiber Holdings in the Northeast and Race Communications in California and surrounding states.
A statement from Oak HIll partners Benjy Diesbach and Scott Baker said, “We believe that reliable, high-speed access to the Internet represents a fundamental underpinning of economic growth and equal opportunity for all Americans, from small towns to big cities.”
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Oak Hill Capital and KKR Back Metronet
Funds managed by global investment firm
KKR and long-time partner,
Oak Hill Capital, and management, have invested in
MetroNet. As part of the transaction, Oak Hill and KKR will each make new investments to help accelerate MetroNet’s growth in building and connecting fiber-to-the-premise data, television, and telephone services to homes and businesses.
“We value our long-standing partnership with Oak Hill and are proud to welcome our new investors at KKR,” said
John Cinelli, MetroNet CEO. “The additional investments from Oak Hill and KKR will drive growth that further bridges the digital divide by providing hundreds of thousands of additional households access to world class and future proof 100 percent fiber optic services for living, learning, and connecting to each other. We look forward to maintaining our commitment to excellence in serving our customers and communities.”
Ontario & Trumansburg Telephone Companies is Acquired by Oak Hill Capital in Strategic Partnership
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OTTC to form strategic partnership with Oak Hill Capital
“Partnering with Oak Hill has positioned us for accelerated growth and geographic expansion, providing our customers with reliable service and high-speed connectivity, without compromising our core values of community values and quality service,” Said Paul Griswold, President of OTTC & UFN. PHELPS, N.Y. (PRWEB) April 01, 2021 Ontario & Trumansburg Telephone Companies (“OTTC”) announced today that it has officially been acquired by an entity of Oak Hill Capital (“Oak Hill”) to expand its Fiber-To-The-Home (“FTTH”) network across Upstate NY, bringing high-speed internet access to underserved markets across the region. With this partnership, OTTC is poised to become a leading FTTH network provider serving residential customers in Up