Bain Capital and Tillman Global have announced a $1.5 billion investment in Eaton Fiber, an affiliate of Tillman, to accelerate the expansion of Verizon fiber broadband through fiber network deployment across the United States.
The investment, which was led by Bain Capital's Special Situations team, fully funds the acquisition of Ripple Fiber and the next phase of Eaton Fiber's network expansion.
In connection with the investment, Eaton Fiber has entered into a definitive agreement to acquire Ripple Fiber, a leading 100 percent fiber-optic internet provider and network operator. The acquisition is the first step in Eaton Fiber’s buy-and-build strategy to bring Verizon fiber broadband to more than 1 million locations outside Verizon’s current fiber footprint through organic construction and disciplined acquisitions. Ripple Fiber’s existing shareholders, Platform Investment Partners and KLT, will continue to back the Eaton Fiber platform alongside Tillman and Bain
