Point Broadband, a high-speed internet service provider based in West Point, Georgia, said it has received an investment from private equity firm GTCR to help accelerate its expansion plans. Terms of the deal were not disclosed.
Point Broadband was founded in 2017 and offers fiber-to-the-premises broadband service to residential and business customers in several markets east of the Mississippi River. The company said it is actively expanding its footprint via FTTP builds in near adjacent markets, and that the investment from GTCR will help accelerate plans to expand its network into underserved communities.
"GTCR's strategic investment will help accelerate the deployment of our fiber-based broadband solutions to a range of markets, including small town USA and rural America," Point Broadband co-founder and CEO Todd Holt said in a press release. "GTCR shares our core values of customer service and community engagement and has a proven track record of deploying capital to build state-of-the-art broadband networks. We are excited to welcome GTCR to the Point Broadband family as we enter our next phase of growth."
Stifel served as lead financial advisor and Houlihan Lokey served as co-financial advisor to Point Broadband. Credit Suisse and Rothschild & Co. served as financial advisors and Kirkland & Ellis LLP served as legal advisor to GTCR.
"Point Broadband has a strong focus on best-in-class customer service supported by a localized presence in the communities they serve, and we believe Point is well-positioned to serve the growing demand for broadband services in markets across the nation," GTCR managing director Mark Anderson said in a press release.
