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.”
MetroNet looking to enter, compete in Mankato market
MetroNet looking to enter, compete in Mankato market By KEYC Staff | March 9, 2021 at 10:05 PM CST - Updated March 9 at 10:05 PM
MANKATO, Minn. (KEYC) Mankato could have a new internet and cable provider in the near future.
MetroNet is looking to compete with Spectrum, Consolidated Communications and satellite-based providers in the area.
The work will cost an estimated $266,000.
Mankato City Council members showed support during a work session on Monday.
However, Mankato isn’t the only city that is interested in MetroNet, with the city governments of North Mankato and Eagle Lake also showing interest.