Point Broadband has accepted a strategic investment from funds affiliated with US private equity firm GTCR. Founded in 2017, and headquartered in West Point, Georgia, Point Broadband provides fibre-to-the-premises (FTTP) data services to residential and business customers in select markets east of the Mississippi River. In addition to operating its existing network, Point is actively expanding its footprint via new FTTP builds in near-adjacent markets. In partnering with GTCR, Point Broadband will accelerate its ongoing network expansion in order to provide fibre-based broadband to underserved communities. The financial terms of the transaction were not disclosed.
TeleGeography notes that GTCR has invested in a number of US telecoms businesses in recent years, including prominent MVNO Consumer Cellular in a USD2.3 billion deal that was sealed late last year. Previously, in September 2020 GTCR sold a 45% stake in Mega Broadband Investments to Cable ONE (Sparklight) for approximately USD574.1 million. GTCR also sold its NewWave cable unit to Cable ONE in a 2017 deal valued at USD735 million.