Oak Hill Capital, a thematic, middle-market private equity firm, entered into a definitive agreement to acquire a majority stake in Wyyerd Group, a fiber-to-the-premises (FTTP) broadband provider operating in Arizona and Southern California, from global investment firm Carlyle. Financial terms were not disclosed.
“We are excited to partner with Oak Hill as we enter Wyyerd’s next phase of growth,” Justin Freesmeier, CEO of Wyyerd, said. “Carlyle has been an invaluable partner in helping us build and scale the business, and we are grateful for their support over the past five years. Oak Hill’s extensive experience in fiber infrastructure and shared commitment to delivering reliable, high-speed connectivity make them an ideal partner. The combined backing of Oak Hill and Carlyle strengthens our capital foundation, enabling us to accelerate network expansion and deliver high-speed fiber internet to even more customers across the region.”
Jeff Butler, principal at Oak Hill Capital, added, “Wyyerd has established a strong foundation as one of the leading fiber operators in Arizona and Southern California, supported by a best-in-class management team and significant opportunities for continued growth. We look forward to leveraging our expertise and working with Justin in an effort to expand the Company’s fiber network and bring high-speed connectivity to more communities across the region.”
Peter Taylor, co-head of Carlyle Global Infrastructure, said, “Our investment in Wyyerd reflected our conviction in the essential role of fiber infrastructure in supporting growing demand for high-speed connectivity. Working alongside Justin and his management team, we have helped build a leading fiber broadband platform through strategic investment and operational improvements. We believe Wyyerd is exceptionally well positioned to capitalize on the significant opportunities ahead.”
The transaction is expected to close in January 2027, subject to customary regulatory approvals and closing conditions. Lazard and TD Securities are serving as financial advisors to Wyyerd, and A&O Shearman is serving as legal counsel. Guggenheim Securities is serving as financial advisor to Oak Hill, and Paul, Weiss, Rifkind, Wharton & Garrison is serving as legal counsel.
