NetSpeed LLC, a fiber-to-the-premises operator serving residential and business customers in Connecticut and Pennsylvania, announced a partnership with Oak Hill Capital, which will allow NetSpeed to accelerate the expansion of its fiber network throughout the Northeastern United States.
“This agreement gives NetSpeed the ability to significantly expand our business in the Northeast with the support of a partner who has a long history of investing in telecommunications companies with great potential,” said Frank Chiaino, founder and CEO of NetSpeed.
Oak Hill is an experienced investor in the fiber-to-the-premises space. The firm’s current and recently announced investments include Metronet, a leading fiber-to-the-premises operator based in the Midwestern U.S.; Vexus Fiber, an expanding fiber-to-the-premises provider in Texas; Race Communications, a growing fiber-to-the-premises business in California; and recently announced, separate agreements to invest in Otelco and Trumansburg, two eastern U.S. broadband companies.
“NetSpeed and Oak Hill have very strong ties to the Northeastern U.S., with both headquarters in New York state, additional presence in Connecticut and Pennsylvania, and a history of building fiber networks throughout the region,” said Jennifer Jun, Principal at Oak Hill. “Having been a long-time resident of the tri-state area, I am excited to support NetSpeed’s mission to provide more customers with high-speed fiber connections and outstanding customer service in previously underserved communities across NetSpeed’s existing footprint and surrounding states.”