KKR takes stake in MetroNet as part of new funding round

April 29, 2021
MetroNet says the new funding will enable the company to further expand its footprint, with expectations that its FTTP network will pass more than 1 million residential households and businesses in the near future.

MetroNet says it will receive a new round of funding that will see KKR join Oak Hill Capital as an investor. The broadband services provider did not disclose how much money it will receive in the transaction, which is expected to close in the third quarter of this year and will include investments from both firms.

The company provides broadband services up to 10 Gbps across nine states using fiber to the premises (FTTP). MetroNet frequently collaborates with local government in opening new markets.

MetroNet says the new funding will enable the company to further expand its footprint, with expectations that its FTTP network will pass more than 1 million residential households and businesses in the near future.

The addition of KKR also adds another investor experienced in broadband services provision, particularly outside of North America. The firm has investments in FiberCop in Italy, Hyperoptic in the UK, and Deutsche Glasfaser in Germany.

"We value our longstanding partnership with Oak Hill and are proud to welcome our new investors at KKR," said John Cinelli, MetroNet CEO. "The additional investments from Oak Hill and KKR will drive growth that further bridges the digital divide by providing hundreds of thousands of additional households access to world class and future proof 100% fiber-optic services for living, learning, and connecting to each other. We look forward to maintaining our commitment to excellence in serving our customers and communities."

"MetroNet has set itself apart as the leading independent FTTP provider in the U.S., well known for its high-quality technology, exceptional customer service, and local operations," concluded Waldemar Szlezak, a senior leader on KKR's infrastructure investment team. "We are thrilled to be supporting MetroNet, alongside Oak Hill, on its mission to deliver much-needed broadband access across the U.S., a market that is well behind its peers in FTTP connectivity."

About the Author

Stephen Hardy | Editorial Director & Associate Publisher

Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.

Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.

He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, DOCSIS technology, and more.

Sponsored Recommendations

The Journey to 1.6 Terabit Ethernet

May 24, 2024
Embark on a journey into the future of connectivity as the leaders of the IEEE P802.3dj Task Force unveil the groundbreaking strides towards 1.6 Terabit Ethernet, revolutionizing...

The Pluggable Transceiver Revolution

May 30, 2024
Discover the revolution of pluggable transceivers in our upcoming webinar, where we delve into the advancements propelling 400G and 800G coherent optics. Learn how these innovations...

Data Center Interconnection

June 18, 2024
Join us for an interactive discussion on the growing data center interconnection market. Learn about the role of coherent pluggable optics, new connectivity technologies, and ...

Scaling Moore’s Law and The Role of Integrated Photonics

April 8, 2024
Intel presents its perspective on how photonic integration can enable similar performance scaling as Moore’s Law for package I/O with higher data throughput and lower energy consumption...