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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