Point Broadband receives major investment to bring fiber optic networks to rural communities
(UI) – Point Broadband Fiber Holding, LLC, a provider of high speed fiber-to-the-premise internet services to residential and business customers in select small town and rural markets in the United States, announced it will receive a significant growth investment from funds affiliated with Berkshire Partners, a leading private investment firm with deep experience in digital infrastructure. Financial terms of the transaction were not disclosed.
Founded in 2017 and headquartered in Opelika, Alabama, Point Broadband today serves approximately 75,000 customers and growing, primarily in rural areas and small city communities in nine states. The company focuses on providing multi-gig fiber internet connectivity solutions to homes and businesses at the speeds needed to be successful and competitive in today’s connected world.
The company is backed by GTCR, a leading private equity firm, which made a strategic investment in the business in 2021. Since that time, the company has added over 100,000 additional fiber passings and entered two new states.
“As we continue to prioritize growth and extend access to our 100 percent fiber optic internet service, the sector expertise and resources Berkshire Partners brings in digital infrastructure are the perfect fit to help expand our reach and bring quality service to customers in underserved markets,” said Todd Holt, CEO of Point Broadband. “Together with our continued partnership with GTCR, this investment will accelerate the deployment of our all-fiber Gigabit broadband solutions to a wider array of residential and business customers in rural communities.”
Related News
From Archive
- OSHA issues 16 citations following fatal sewer confined space incident
- 27 pipeline safety violations tied to deadly Pa. chocolate factory explosion
- Contractor gas line strike triggers home explosion in Missouri
- LA recovery reports call for $650 million power line burial, major utility upgrades in Pacific Palisades
- Comprehensive microtrenching FAQ: Key insights on the Vermeer MTR516 microtrencher
- T-Mobile to expand fiber broadband infrastructure footprint with $4.9 billion Metronet acquisition
- First tunnel boring machines complete testing for Hudson Tunnel Project
- NWPX grows water infrastructure portfolio with Colorado precast facility
- Cityside launches $100 million fiber build in Corona, Calif.
- FiberLight to build 1,400-mile West Texas dark fiber network in $350 million expansion
Comments