Metronet will become a wholesale services provider for its retail customers and 100 percent of its residential fiber retail operations and customers will transition to T-MobileIn addition, Oak Hill and the Cinelli family will each invest into the new partnershipOak Hill first invested in Metronet in 2014
Oak Hill Capital and the Cinelli family have sold Metronet, an Evansville, Indiana-based fiber-to-the-home provider. The buyer is a joint venture owned by T-Mobile and KKR. No financial terms were disclosed.
Metronet will become a wholesale services provider for its retail customers and 100 percent of its residential fiber retail operations and customers will transition to T-Mobile. In addition, Oak Hill and the Cinelli family will each invest into the new partnership.
Oak Hill first invested in Metronet in 2014.
“After an over 15-year relationship with the Cinelli family and 10 years of partnership with Metronet, we are incredibly proud of the tremendous growth we have achieved together, including expanding the Company’s fiber network from 10 small towns in Indiana to operations in 19 states and increasing locations passed by over 30 times,” said Benjy Diesbach, senior operating advisor, and Scott Baker, managing partner of Oak Hill in a statement. “This success is a testament to Metronet’s outstanding leadership and commitment to customers, and we look forward to this next chapter for the company and Oak Hill’s continued involvement.”
Metronet was founded in 2005.