Oak Hill Pledges $250 Million to Omni Fiber to Expand Broadband Access in Underserved Midwest Cities

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As a majority investor in a new fibre-to-the-premises internet provider, Hill Oak will partner with Omni Fiber to accelerate the deployment of fiber-based broadband networks in the Midwest.

CINCINNATI and MENLO PARK, Calif., July 22, 2022 /PRNewswire/ — Oak Hill Capital (“Hill Oak“) today announced the creation of a new fibre-to-the-premises (FTTP) provider, Omni Fiber (“Omni” or the “Company”), to bring a new high-speed Internet service option to the Small and Midsize Midwest markets that have historically been underserved by large phone and cable companies.

Oak Hill’s $250 million the commitment to Omni Fiber from its latest flagship fund, Oak Hill Capital Partners VI, will finance the construction of a new network to bring cutting-edge fiber optic internet, television and telephone services to homes and businesses in communities across the Midwest, with initial projects in the states of Ohio, Pennsylvaniaand Michigan.

“We are delighted to partner with Hill Oak and are excited to provide high-quality Internet access options to small and medium-sized communities in the Midwest,” said Darrick Zuco, CEO of Omni Fiber. “Oak Hill’s This investment will drive our growth to help bridge the digital divide and establish competitive choice by providing hundreds of thousands of homes with access to our scalable 100% fiber optic network. We look forward to establishing and maintaining an excellent quality of service as we support our new customers and communities for years to come.”

Omni Fiber will deliver affordable, symmetrical speeds of up to 2 Gbps to homes and businesses in small and mid-sized cities in the Midwest where current broadband options are limited. Omni will deliver what customers expect from their Internet service provider: fast Internet speeds, reliability, full-in-home coverage and top-notch local customer service. Omni won’t require contracts for residential customers and promises no hidden fees, no data caps, no setup fees and a 30-day money-back guarantee. With Oak Hill’s investment in society, Omni will not need to rely on grants or subsidies from federal, state or local governments to build its network.

Hill Oak is an experienced investor in the FTTP space, and Omni Fiber’s management team has over 80 years of combined experience in building and growing fiber networks. Oak Hill’s current broadband investments that are enabling increased fiber access in the United States include MetroNet, one of the nation’s largest independent 100% fiber network providers; Vexus Fiber, an expanding supplier in Texas, New Mexico and Louisiana; GoNetspeed in the Northeast; Race communications in California; and Greenlight Networks in upstate New York.

“We believe that reliable, high-speed Internet access is a fundamental catalyst for economic growth and equal opportunity for all Americans, from small towns to big cities,” said Scott BakerPartner at Hill Oak. “We have had a strong relationship with Omni’s founding management team – Darrick Zuco, Steve Gable, Brian Ross and Andres Tovar – for many years. We are excited to officially launch our new partnership with this outstanding team as the company builds and introduces its fiber network across the Midwest. »

About Hill Oak
Oak Hill is a long-standing private equity firm focused on the North American middle market. Oak Hill applies a specialized thematic approach to investing in the following dedicated industry sectors: media and communications, industrials, services and consumer. The company implements a highly systematic approach to theme development, proactive creation and value creation in partnership with management to create franchises of enduring value. Since 1986, Oak Hill and its predecessors have raised approximately $20 billion in seed capital commitments and co-investments, invested in approximately 100 companies, and completed more than 300 follow-on acquisitions representing aggregate enterprise value at acquisition. over $60 billion. For more information, please visit www.oakhill.com.

About Omni Fiber
Founded in 2022, OhioHeadquartered in Omni Fiber, Omni Fiber provides 100% fiber optic broadband Internet, television and telephone services to residential and business customers in the Midwestern United States. Omni Fiber offers symmetrical speeds of up to 2Gbps, no hidden charges, no data caps, premium Wi-Fi included, local customer service and competitive pricing. For more information, visit www.omnifiber.com.

Oak Hill Media Contact:
dawn dover
[email protected]

Omni Fiber Media Contact:
John Barnes
[email protected]

SOURCEOak Hill Capital Partners

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