LiveOak Fiber, a fiber-to-the-home internet provider, secured a $425 million credit facility from Oak Hill Advisors (OHA) and Palistar Capital to support continued network expansion across the Southeast region. The new capital will help LiveOak Fiber shape its vision for the future, extending its all-fiber footprint and accelerating internet connectivity across the company’s existing and planned markets.
“LiveOak Fiber has achieved rapid expansion in a short period of time,” Shane Schilling, CEO of LiveOak Fiber, said. “What differentiates LiveOak Fiber is our fiercely local operating model. We have full-time local teams on the ground delivering installation, support and community engagement, and, with this new funding, we are positioned to accelerate our build-out and continue gaining momentum across our footprint.”
Filip Guz, partner at InfraRed Capital Partners, said, “We’re proud of the platform we’ve built alongside LiveOak Fiber. This additional capital is a strong signal of confidence in the team and reinforces LiveOak as a fully integrated growth engine with substantial long-term value.”
Steve Smith, Founder and Chief Revenue Officer of LiveOak Fiber, said, “LiveOak Fiber is being built to scale across every customer type, from single-family homes to businesses to multi-tenant communities. This investment enables us to continue to drive lasting value while consistently delivering a premium customer experience across our markets.”
J.P. Morgan advised LiveOak Fiber on various strategic alternatives and acted as structuring agent to LiveOak Fiber on the credit facility. Clifford Chance acted as legal counsel to LiveOak Fiber and InfraRed Capital Partners, and Milbank acted as legal counsel to OHA and Palistar Capital.
