Oak Hill Capital, a New York-based middle-market private equity firm, has announced that it will acquire a controlling interest in Greenlight Networks, an ISP that delivers fibre-to-the home (FTTH) services to selected locations in New York State. The financial terms of the transaction were not disclosed.
Greenlight currently provides fibre broadband to approximately 80,000 homes in 20 municipalities in the Rochester, Buffalo and Binghamton areas. Going forward, the company believes it will reach more than 800,000 homes with broadband in the coming years. To support this expansion, Oak Hill plans to invest up to USD300 million in the company.
The deal, which is subject to New York State Public Service Commission approval, is expected to close this spring.
According to its website, Oak Hill Capital currently invests in multiple US telecoms providers, including: Otelco, Future Fiber Holdings, MetroNet, Race Communications and Vexus. In January this year the investor announced the merger of its MetroNet and Vexus units.