Berkshire Partners, a private investment firm focused on digital infrastructure, has made a significant growth investment in Point Broadband Fiber Holding LLC, a provider of Internet services to residential and business customers in small town and rural markets in the U.S and backed by GTCR.
Founded in 2017 and headquartered in Opelika, Ala., Point Broadband serves approximately 75,000 customers, primarily in rural areas and small city communities in nine states. The company focuses on providing multi-gig fiber Internet connectivity services to homes and businesses.
“This additional investment will significantly increase the company’s ability to bring critical fiber-based broadband access to underserved rural communities across the nation,” says Stephen Jeschke, managing director at GTCR.
Bank Street Group LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Point Broadband and GTCR. Ropes & Gray LLP served as legal advisor to Berkshire Partners.