The New York-based middle-market private equity firm has acquired a controlling interest in Greenlight through its most recent 2022 vintage fund, Oak Hill Capital Partners VI
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."
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