CINCINNATI, July 16, 2024 /PRNewswire/ — Omni Fiber, a regional Fiber Web Carrier Supplier with operations in over 25 markets in Ohio and Pennsylvania subsidized through Oak Hill Capital, these days introduced the last of $150 million in debt financing from Stonepeak Credit score.
Based in 2022 through control and Oak Hill, Omni Fiber has invested over $250 million in construction an XGS-PON fiber community and is on course to achieve roughly 200,000 places through the top of the date. The financing from Stonepeak Credit score will treasure fast enlargement into extra communities in Ohio, Pennsylvania, and Michigan.
Omni Fiber introduced its carrier in past due 2022 and now serves residential and trade shoppers in over 25 little and mid-size communities. Development is in proceed in over 15 alternative communities, and community design and engineering actions are ongoing in lots of others.
Omni Fiber’s origination CEO, Darrick Zucco stated, “We are excited about the additional opportunities this financing enables. The company’s network expansion not only brings choice to communities with limited options for reliable, ultra-high-speed Internet service but also creates hundreds of new jobs at Omni Fiber and local contractors. The halo effect on economic development for the impacted towns is significant.”
Scott Baker, Managing Spouse at Oak Hill Capital, added “It has been a uniquely rewarding experience to partner with Darrick and his talented leadership team. We are thrilled by the rapid growth of Omni Fiber and are committed to continuing investing behind the team as they expand their fiber services to underserved markets in Ohio, Pennsylvania, and Michigan.”
Ryan Roberge, Senior Managing Director at Stonepeak, added “We are proud to partner with Omni Fiber and Oak Hill Capital to support Omni’s next phase of growth. Our team was thoroughly impressed with Darrick and the rest of Omni’s management team and their plans to expand Omni’s next generation fiber network to additional communities in the Midwest. We look forward to continuing our partnership with Omni and Oak Hill Capital over the long-term.”
With the alternative investment, Omni Fiber expects to boost up the date of enlargement and announce extra communities within the after few months.
About Omni Fiber
Omni Fiber used to be based in 2022 and is subsidized through Oak Hill Capital, probably the most biggest funding companies within the telecommunications trade. Primarily based in Ohio, Omni Fiber is led through a management staff with 100+ years of blended trade enjoy and gives 100% fiber-optic broadband Web, TV, and Telephone products and services to residential and trade shoppers within the Midwestern United States. Omni Fiber do business in linear speeds of as much as 10 Gbps, refuse undisclosed charges, refuse information caps, Top rate Wi-Fi integrated, native customer support, and aggressive pricing. For more info, please talk over with www.omnifiber.com.
About Oak Hill Capital
Oak Hill is a longstanding personal fairness company centered at the North The us middle-market. Oak Hill applies a specialised, theme-based way to making an investment in refer to devoted trade sectors: Media & Communications, Industrials, Services and products, and Client. The Company implements a extremely systematic way to theme building, proactive initiation, and worth inauguration in partnership with control to create franchises of lasting price. Over the while 35+ years, Oak Hill and its predecessors have raised roughly $20 billion of preliminary capital loyalty and co-investments, invested in roughly 100 firms, and finished greater than 300 add-on acquisitions representing an combination endeavor price at acquisition of over $60 billion. For more info, please talk over with www.oakhill.com.
About Stonepeak
Stonepeak is a chief extra funding company that specialize in infrastructure and actual property with roughly $71.2 billion of property below control. Via its funding in defensive, hard-asset companies globally, Stonepeak goals to form price for its traders and portfolio firms, with a focal point on drawback coverage and robust risk-adjusted returns. Stonepeak supplies capital, operational aid, and dedicated partnership to develop investments in its goal sectors, which come with communications, power and effort transition, delivery and logistics, and actual property.
Stonepeak is a sponsor of personal fairness and credit score funding cars. Stonepeak Credit score supplies credit score answers to infrastructure sponsors and corporations.
Stonepeak is headquartered in Pristine York with places of work in Hong Kong, Houston, London, Singapore, and Sydney. For more info, please talk over with www.stonepeak.com.
Omni Fiber Media Touch:
Andres Tovar
[email protected]
513-480-9610
SOURCE Omni Fiber
