Oak Hill Capital Completes Majority Investment in Greenlight Networks
ROCHESTER, N.Y., June 2, 2022 /PRNewswire/ — Greenlight Networks (“Greenlight”), a leading fiber-to-the home provider in upstate New York, announced today that New York-based middle-market private equity firm Oak Hill Capital (“Oak Hill“) has become its majority investor. The transaction announced in March of this year provides the financial backing to accelerate Greenlight’s growth in building and connecting fiber-to-the-home broadband services across New York state and beyond.
Oak Hill announced plans to invest up to $300 million to expand Greenlight’s network from nearly 90,000 homes today to more than 800,000 homes in the next few years.
“We are excited to formally launch our new partnership with Mark Murphy and the rest of the talented Greenlight management team. Oak Hill believes strongly in the significant benefits that reliable, high-speed fiber Internet access creates for all communities. We look forward to working with the Greenlight team to bring these services to many underserved cities, towns and villages across New York state and the Northeast,” said Scott Baker, a Partner at Oak Hill.
“We are proud to be part of the Oak Hill family of companies as we share a common belief that wide-spread fiber deployment is necessary to provide customers with high-speed broadband connections at prices they can afford,” said Greenlight Founder and Chief Executive Officer Mark Murphy. “People’s livelihoods and lifestyles, as well as the continued economic development of the communities we serve, rely on the expansion of fiber networks. We are excited to partner with Oak Hill Capital to bring future-proof fiber networks to hundreds of thousands of more homes.”
About Greenlight Networks
Greenlight Networks is an ultra-high-speed, broadband service provider, offering residential and small business customers Internet speeds up to 2 Gigabits per second. Greenlight Networks was founded in 2011 and builds, owns, and operates a fiber-optic network that provides extremely high-speed Internet connections. The company currently provides high-speed fiber Internet to nearly 90,000 homes in 20 municipalities in the Rochester, Buffalo, Binghamton, and Albany areas. For more information, visit GreenlightNetworks.com or find it on Facebook.com/GreenlightNetworks, and @GreenlightFiber on Twitter.
About Oak Hill Capital
Oak Hill is a longstanding private equity firm focused on the North America middle-market. Oak Hill applies a specialized, theme-based approach to investing in the following dedicated industry sectors: Media & Communications, Industrials, Business Services, and Consumer. The Firm implements a highly systematic approach to theme development, proactive origination, and value creation in partnership with management to build franchises of lasting value. Since 1986, Oak Hill and its predecessors have raised approximately $20 billion of initial capital commitments and co-investments, invested in approximately 100 companies, and completed more than 300 add-on acquisitions representing an aggregate enterprise value at acquisition of over $60 billion. For more information, please visit www.oakhill.com.
Oak Hill Capital
SOURCE Oak Hill Capital Partners