Oak Hill Capital, a thematic, middle-market private equity firm, and the Cinelli family have completed the sale of Metronet, one of the largest and fastest-growing independent fiber-to-the-home (FTTH) providers in the United States. Neither the buyer nor financial terms were disclosed.
Metronet will become a wholesale services provider for its retail customers, and 100 percent of its residential fiber retail operations and customers will transition to T-Mobile. In addition, Oak Hill and the Cinelli family will each invest into the new partnership.
Oak Hill first invested in Metronet in 2014 and provided additional capital through multiple funds during the course of its investment. For more than 10 years, Oak Hill has worked closely with Metronet's founders, the Cinelli family, and the company's management team to build Metronet into a key U.S. FTTH operator. Since Oak Hill's initial investment, Metronet has grown by more than 20 times across key operating metrics. Toda
