Oak Hill Capital says it is funding a new fiber-to-the-premises (FTTP) network operator, Omni Fiber, as lead investor. Omni Fiber will provide triple-play services via FTTP across the Midwest, starting with Ohio, Pennsylvania, and Michigan, backed by a commitment of $250 million from the Oak Hill Capital Partners VI flagship fund.
Omni Fiber will focus on homes and businesses in small and medium-sized town in the Midwest, where it will offer services as high as 2 Gbps symmetric. Oak Hill Capital asserts Omni Fiber won’t require contracts for residential customers; promises no hidden fees, data caps, or installation fees; and will offer a 30-day money-back guarantee. The private equity firm adds that its investment ensures that Omni Fiber won’t have to rely on broadband grants to build out its FTTP infrastructure.
"We believe that reliable, high-speed access to the internet represents a fundamental catalyst for economic growth and equal opportunity for all Americans, from small towns to big cities," said Scott Baker, partner at Oak Hill. "We have enjoyed strong relationships with Omni's founding executive team – Darrick Zucco, Steve Gable, Brian Ross, and Andres Tovar – for many years. We are excited to formally launch our new partnership with this outstanding team as the company builds and introduces its fiber network across the Midwest."
"We are thrilled to partner with Oak Hill and are excited to provide high-quality Internet access options to small and medium communities across the Midwest," said Zucco, who will be Omni Fiber’s CEO. "Oak Hill's investment will spur our growth to help bridge the digital divide and establish competitive choice by providing hundreds of thousands of households access to our future-proof, 100% fiber-optic network. We look forward to establishing and maintaining excellent service quality as we support our new customers and communities for years to come."
For related articles, visit the FTTx Topic Center.
For more information on FTTx technology and suppliers, visit the Lightwave Buyer’s Guide.
To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Datacom/Data Center newsletters.
Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
You can connect with Stephen on LinkedIn as well as Twitter.