Investment Summary

WaveDivision Capital, Oak Hill Capital and KKR Invest In Metronet Fiber

On April 21, 2021, private equity firms WaveDivision Capital, Oak Hill Capital and KKR invested in communications company Metronet Fiber

Investment Highlights
  • This is WaveDivision Capital’s 4th, Oak Hill Capital’s 10th and KKR’s 15th transaction in the Communications sector.
  • This is WaveDivision Capital’s 3rd, Oak Hill Capital’s 60th and KKR’s 166th transaction in the United States.
  • This is WaveDivision Capital’s 1st, Oak Hill Capital’s 1st and KKR’s 3rd transaction in Indiana.

Investment Summary

Date 2021-04-21
Target Metronet Fiber
Sector Communications
Investor(s) WaveDivision Capital
Oak Hill Capital
KKR
Deal Type Growth Capital
Advisor(s) The Bank Street Group LLC
Goldman Sachs (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Metronet Fiber

Evansville, Indiana, United States
Metronet is a provider of fiber-optic internet, TV and phone service in more than 50 cities in Indiana, Illinois, and Kentucky. Metronet Fiber is providing cutting-edge fiber optic telecommunication services, including high-speed fiber internet, full-featured fiber phone, fiber IPTV with a wide variety of programming, and products. Metronet Fiber was founded in 2005 and is based in Evansville, Indiana.

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Investor(S) 3

DESCRIPTION

WaveDivision Capital is a private investment firm focused on the broadband industry. WaveDivision Capital was formed in 2003 and is headquartered in Kirkland, Washington.


DEAL STATS #
Overall 4 of 4
Sector (Communications) 4 of 4
Type (Growth Capital) 1 of 1
State (Indiana) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-15 Hargray Communications Group

Hilton Head, South Carolina, United States

Hargray Communications Group, Inc. is a telecommunications provider serving southeastern South Carolina and northeastern Georgia. The company's operations include traditional telephone carrier services, internet services, cable television, wireless telephone, and a telephone directory publishing operation. Hargray Communications Group was founded in 1949 and is based in Hilton Head, South Carolina.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 Ziply Fiber

Everett, Washington, United States

Ziply Fiber is a telecommunications network business comprises a network that passes 1.7 million residential and business locations, of which approximately 500,000 are fiber-to-the-premises capable. Ziply Fiber is based in Everett, Washington.

Sell CA$5.0B
Investor

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 67 of 76
Sector (Communications) 10 of 13
Type (Growth Capital) 3 of 5
State (Indiana) 1 of 1
Country (United States) 60 of 69
Year (2021) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-16 American Veterinary Group

Tampa, Florida, United States

American Veterinary Group owns and manages a network of veterinary hospitals that treat and protect over 50,000 pets annually. AVG delivers high touch practice management solutions to help veterinarians at all stages of the practice lifecycle, focus on the needs of their patients, instead of the needs of their business. American Veterinary Group was founded in 2012 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Technimark

Asheboro, North Carolina, United States

Technimark is a manufacturer of high-value injection-molded packaging and components serving the consumer packaging, healthcare, and industrial markets. Technimark was founded in 1983 and is based in Asheboro, North Carolina.

Buy -
Investor

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 386 of 483
Sector (Communications) 15 of 20
Type (Growth Capital) 66 of 79
State (Indiana) 3 of 3
Country (United States) 166 of 210
Year (2021) 17 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 KnowBe4

Clearwater, Florida, United States

KnowBe4 is a provider of security awareness platform that helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. KnowBe4 was founded in 2010 and is based in Clearwater, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-22 Impel NeuroPharma

Seattle, Washington, United States

Impel NeuroPharma is a late-stage pharmaceutical company focused on utilizing its proprietary technology to develop and commercialize transformative therapies for people suffering from diseases with high unmet needs, with an initial focus on diseases of the CNS. The Company’s strategy is to rapidly advance its product candidate pipeline that pairs its proprietary Precision Olfactory Delivery (POD) system with well-established therapeutics, including TRUDHESA for the acute treatment of migraine, INP105 for the acute treatment of agitation and aggression in patients with autism, and INP107 for OFF episodes in Parkinson’s disease. Impel NeuroPharma was formed in 2008 and is based in Seattle, Washington.

Sell -