Mergers and Acquisitions, Mergers and Acquisitions, Content

Oak Hill Capital Acquires Greenlight Networks

Fiber optics abstract background – Data Internet Technology Cable

Private equity firm Oak Hill Capital has acquired Greenlight Networks to extend fiber broadband services across New York state and the northeast U.S. Financial terms of the deal were not disclosed.

This is technology M&A deal number 529 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.

Oak Hill Capital Acquires Greenlight Networks

Greenlight Networks was founded in 2011 and builds, owns and operates a fiberoptic network that provides high-speed fiber internet to nearly 90,000 homes in 20 municipalities in the RochesterBuffaloBinghamton and Albany, New York areas, the company said.

Oak Hill is a private equity firm focused on the North American middle-market in media and communications, industrials, business services and consumer.

Scott Baker, partner, Oak Hill Capital
Scott Baker, partner, Oak Hill Capital

Scott Baker, a partner at Oak Hill, commented on the news:

"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."

Mark Murphy, Greenlight founder and CEO, added:

"We are proud to be part of the Oak Hill family of companies as we share a common belief that wide-spread fiber deployment is necessary to provide customers with high-speed broadband connections at prices they can afford. People's livelihoods and lifestyles, as well as the continued economic development of the communities we serve, rely on the expansion of fiber networks. We are excited to partner with Oak Hill Capital to bring future-proof fiber networks to hundreds of thousands of more homes."

Oak Hill's M&A Strategy

Oak Hill has investment experience in the MSP and telco service provider markets, and in April 2021, Oak Hill made an investment in fiber provider Metronet. In July 2020, Oak Hill acquired Otelco, as Ty Trumbull reported for ChannelE2E.

Oak Hill and its predecessors have raised approximately $20 billion of initial capital commitments and co-investments, invested in approximately 100 companies, and completed more than 300 add-on acquisitions representing an aggregate enterprise value at acquisition of over $60 billion, the firm said.