Ontario & Trumansburg Telephone Companies (“OTTC”) announced today that it has officially been acquired by an entity of Oak Hill Capital (“Oak Hill”) to expand its Fiber-To-The-Home (“FTTH”) network across Upstate NY, bringing high-speed internet access to underserved markets across the region. With this partnership, OTTC is poised to become a leading FTTH network provider serving residential customers in Upstate NY.
This marks the start of the second partnership between Oak Hill and OTTC. In 2017, Oak Hill acquired Finger Lakes Technologies Group (“FLTG”), a subsidiary of OTTC, which had successfully built a 3,000-mile fiber network across Upstate NY to serve thousands of enterprise customers attracted to the resilience and high-speeds of FLTG’s modern fiber network.
“In our previous partnership, we were very impressed by OTTC’s family leadership team and their commitment to enhancing fiber communications for local businesses in Upstate NY,” stated Scott Baker and Benjy Diesbach, Partners at Oak Hill. “With this new partnership, we are excited to offer state-of-the art, fiber-to-the-home connectivity to residential customers throughout the region.”
Upstate Fiber Networks (“UFN”), the competitive division and extension of OTTC, will be providing FTTH services within the Finger Lakes region. UFN is registered as a CLEC, allowing UFN to significantly increase its FTTH footprint.
“Partnering with Oak Hill has positioned us for accelerated growth and geographic expansion, providing our customers with reliable service and high-speed connectivity, without compromising our core principles of community values and quality service.” Said Paul Griswold, President of OTTC and UFN. “We are excited for the opportunity to bring high-speed internet connectivity to customers beyond our current established market. As we continue to navigate remote work and online education, we remain committed to providing our customers with reliable, high-speed connectivity and quality service.” UFN will start construction in April 2021, in the Waterloo, Seneca Falls, and Geneva communities.
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About Ontario Trumansburg Telephone Companies
The Ontario & Trumansburg Telephone Companies (OTTC) and their subsidiaries form the largest independently-owned telephone Company in New York State, providing phone and internet services to more than 12,000 residential and business customers. Founded in 1920, OTTC is a five generation, family-led business that keeps innovation at its core with 100 years of experience. To learn more, please contact Ashley Gustafson at 585-313-9794 or email email@example.com.
About Oak Hill Capital
Oak Hill Capital is a private equity firm managing funds with approximately $16 billion of initial capital commitments and co-investments since inception. Over the past 35 years, Oak Hill Capital and its predecessors have invested in over 100 private equity transactions across broad segments of the U.S. and global economies. Oak Hill Capital applies an industry-focused, theme-based approach to investing in the following sectors: Media & Communications; Services; Industrials; and Consumer, Retail & Distribution. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit: http://www.oakhill.com.