On February 15, 2023, Point Broadband Fiber Holding, LLC, a provider of high-speed fiber-to-the-premise internet services to commercial and residential customers in select small town and rural markets across the United States, announced that it will be receiving a significant growth investment through funds affiliated with Berkshire Partners. Berkshire Partners is a leading private investment firm with extensive experience in digital infrastructure. The transaction's financial terms were not disclosed.
Point Broadband currently serves nearly 75,000 customers and is expanding rapidly, primarily in rural areas and small city communities in nine states. The company's primary focus is to provide multi-gigabit fiber internet connectivity to homes and businesses at speeds that allow them to stay competitive in today's connected world. GTCR, a top private equity firm, has made a strategic investment in the company, which was completed in 2021. Since then, the business has added over 100,000 new fiber passings and expanded into two new states.
Chief Executive Officer of Point Broadband, Todd Holt, shared, "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." He added, "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."
(Source – Business Wire)
About Point Broadband
Point Broadband, established in 2017 and headquartered in Opelika, Alabama, provides fast, dependable internet service to residential and commercial clients in rural and suburban America. The company is investing significantly in the construction of cutting-edge wireless broadband networks to better serve areas that have previously had limited or no internet access. It aims to offer an advanced yet user-friendly internet solution and provide excellent customer service to maintain and grow its customer base. The organization serves customers in nine states across the United States and is expanding its network with the goal of improving people's lives through fiber technology.