Service provider Point Broadband, LLC says it has reached an investment agreement with private equity firm GTCR LLC. The funding, the amount of which Point Broadband declined to reveal, will go toward expansion of fiber broadband delivery in new, underserved markets.
Founded in 2017 and headquartered in West Point, GA, Point Broadband offers high-speed broadband via fiber-to-the-premises (FTTP) networks to what it calls “select markets” in nine states east of the Mississippi River. The company says it is growth mode, which the new relationship with GTCR will help fund.
"GTCR's strategic investment will help accelerate the deployment of our fiber-based broadband solutions to a range of markets, including small town USA and rural America," explained Todd Holt, co-founder and CEO of Point Broadband. "GTCR shares our core values of customer service and community engagement and has a proven track record of deploying capital to build state-of-the-art broadband networks. We are excited to welcome GTCR to the Point Broadband family as we enter our next phase of growth."
"The Point management team has built a phenomenal business in a short period of time and we are impressed with the team's execution to date," said Stephen Jeschke, Managing Director at GTCR. "We are thrilled to partner with an entrepreneurial, yet very experienced and seasoned management team to expand Point's network and bring fiber-based internet access to new communities."
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