Oak Hill Capital-backed US internet service provider Omni Fiber has secured $150m (鈧�138m) in debt financing from Stonepeak鈥榮 credit arm to help accelerate its expansion plan.
Founded in 2022 by , Omni Fiber is a regional fibre internet service provider with operations in over 25 markets in Ohio and Pennsylvania.
Omni Fiber said the funding from Stonepeak is expected to help fund its expansion into more communities in Ohio, Pennsylvania and Michigan.
Ryan Roberge, senior managing director at Stonepeak, said: 鈥淲e are proud to partner with Omni Fiber and Oak Hill Capital to support Omni鈥檚 next phase of growth.
鈥淥ur team was thoroughly impressed with Darrick and the rest of Omni鈥檚 management team and their plans to expand Omni鈥檚 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.鈥�
Omni Fiber鈥檚 founding CEO, Darrick Zucco, said: 鈥淲e are excited about the additional opportunities this financing enables. The company鈥檚 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.鈥�
Scott Baker, managing partner at Oak Hill Capital, said: 鈥淲e 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.鈥�
To read the latest 91传媒在线 magazine click here.
