Omni Fiber, a regional fiber internet service provider with operations in over 25 markets in Ohio and Pennsylvania backed by Oak Hill Capital, closed $150 million in debt financing from Stonepeak Credit. The financing will fund rapid expansion into more communities in Ohio, Pennsylvania and Michigan.
“We are excited about the additional opportunities this financing enables,” Darrick Zucco, CEO of Omni Fiber, said. “The company’s network expansion not only brings choice to communities with limited options for reliable, ultra-high-speed Internet service but also creates hundreds of new jobs at Omni Fiber and local contractors. The halo effect on economic development for the impacted towns is significant.”
“It has been a uniquely rewarding experience to partner with Darrick and his talented leadership team,” Scott Baker, managing partner at Oak Hill Capital, said. “We are thrilled by the rapid growth of Omni Fiber and are committed to continuing investing behind the team as they expand their fiber services to underserved markets in Ohio, Pennsylvania and Michigan.”
“We are proud to partner with Omni Fiber and Oak Hill Capital to support Omni’s next phase of growth,” Ryan Roberge, senior managing director at Stonepeak, said. “Our team was thoroughly impressed with Darrick and the rest of Omni’s management team and their plans to expand Omni’s next generation fiber network to additional communities in the Midwest. We look forward to continuing our partnership with Omni and Oak Hill Capital over the long-term.”
