Oak Hill Capital has agreed to acquire a majority stake in US fibre-to-the-premises provider Wyyerd Group from Carlyle for an undisclosed sum.
Global investment firm Carlyle, which acquired majority control of Wyyerd in 2021, will retain a minority equity stake in the Arizona and Southern California-focused regional broadband operator.
Jeff Butler, principal at Oak Hill Capital, said: “Wyyerd has established a strong foundation as one of the leading fibre operators in Arizona and Southern California, supported by a best-in-class management team and significant opportunities for continued growth.
“We look forward to leveraging our expertise and working with Justin in an effort to expand the Company’s fibre network and bring high-speed connectivity to more communities across the region.”
Peter Taylor, co-head of Carlyle global infrastructure, said: “Our investment in Wyyerd reflected our conviction in the essential role of fiber infrastructure in supporting growing demand for high-speed connectivity.
“Working alongside Justin and his management team, we have helped build a leading fiber broadband platform through strategic investment and operational improvements. We believe Wyyerd is exceptionally well positioned to capitalise on the significant opportunities ahead.”
Justin Freesmeier, CEO of Wyyerd, said: “The combined backing of Oak Hill and Carlyle strengthens our capital foundation, enabling us to accelerate network expansion and deliver high-speed fibre internet to even more customers across the region.”
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