Oak Hill Capital has become the majority investor in Greenlight Networks, a fiber-to-the home provider in upstate New York.
The transaction announced in March 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.