GCM Grosvenor has plans to buy a significant ownership stake of Horizon, an Ohio-based fiber optic broadband company.
GCM Grosvenor will invest through its Labor Impact Strategy and joins the existing investor group led by Novacap TMT, a Canadian private equity firm.
Horizon, which began as a local telephone company more than 120 years ago, is a premier provider of fiber optic bandwidth infrastructure services operating primarily in Ohio. During the past decade, the company has expanded its fiber network and now services customers across the Midwest.
The backing of its new partner will enable Horizon to continue its network expansion. The company has made its foray into fiber-to-the-home initiatives, and recently completed an initial greenfield fiber build in Circleville, Ohio. Six more builds are currently in the works, and the company is continuing to seek out additional markets for development throughout the state.
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