Omni Fiber has secured $200 million in new financing to support its continued fiber-optic network expansion across the Midwest and Texas. The round includes $150 million in incremental debt from Stonepeak Credit and Oak Hill Advisors, as well as an additional $50 million in equity from Oak Hill Capital. The company also closed a $10 million working-capital facility with Republic Bank & Trust Company.
Founded in 2022 by management and Oak Hill Capital, Omni Fiber has invested more than $400 million to build its XGS-PON network and remains on pace to reach roughly 340,000 locations by year-end. The latest debt infusion follows a previous $150 million financing from Stonepeak Credit, announced in July 2024, and will enable the company to accelerate builds across new, underserved, and mid-market communities.
Omni Fiber began delivering service to its first community in December 2022 and now serves residential and business customers in about 60 small- and mid-size markets across Ohio, Pennsylvania, Michigan, and Texas. Construction is underway in approximately 25 communities, with additional markets advancing through network design and engineering phases.
The company continues to position itself as a high-growth, high-capacity broadband provider amid rising demand for reliable, symmetrical fiber connectivity across the United States.
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“We are grateful that the additional funds will accelerate our rapid expansion to bring fiber-optic connectivity to those who have been previously underserved. We welcome our new funding partners OHA and Republic Bank.”
Darrick Zucco, CEO, Omni Fiber
“We are proud of our strong operating performance driven by the Omni Fiber management team and very pleased with the company’s continued growth. The Oak Hill additional equity investment, together with the incremental financing from debt partners, underscores our belief in the Omni Fiber business model.”
Scott Baker, Managing Partner, Oak Hill Capital
“We continue to be impressed with the Omni Fiber team’s execution of their business plan. We are excited to upsize our investment and continue supporting the team and the high-quality fiber network they are deploying for customers in the Midwest.”
Ryan Roberge, Senior Managing Director, Stonepeak
“Omni Fiber has demonstrated strong execution and a clear commitment to expanding high-quality fiber broadband access in underserved communities. We are pleased to partner with Stonepeak and Oak Hill Capital Partners to support the company’s next phase of growth.”
Greg Leveto, Portfolio Manager and Partner, Oak Hill Advisors
