Omni Fiber nets $200M from Oak Hill Capital and Stonepeak

Omni Fiber, a rising Midwest fiber broadband provider, has secured $200 million in new financing to accelerate expansion across the region. The package comprises $150 million of incremental debt financing from Stonepeak Credit and Oak Hill Advisors alongside $50 million of equity from Oak Hill Capital, plus a $10 million working-capital facility with Republic Bank & Trust Company.

Founded in 2022 and backed by Oak Hill Capital, Omni Fiber has invested more than $400 million to build a 100% fiber-optic network capable of symmetrical speeds up to 10 Gbps. The company serves roughly 60 communities in Ohio, Pennsylvania, Michigan and Texas, with 25 communities under construction and network design and engineering activity in many others.

The incremental financing will fund a rapid nationwide push, with a focus on additional markets in the Midwest and Texas as demand for high-capacity connections continues to rise among households and businesses embracing hybrid work and digital workflows. Omni Fiber targets reaching approximately 340,000 locations by year-end, extending access to underserved areas that lack robust fiber connectivity.

Fiber-rich expansion remains a priority for both private equity and credit specialists, as regional networks scale to meet the demand for ultra-fast, low-latency networks. The collaboration among Oak Hill Capital, Stonepeak Credit, and Oak Hill Advisors signals a broader trend of capital providers aligning to back infrastructure-led growth in mid-market geographies.

Behind the growth story is a leadership team with deep telecom experience, anchored by Darrick Zucco and supported by an expanding workforce as the company builds out field operations and network engineering capacity. The blend of equity and debt financing will bolster capital expenditure, vendor partnerships, and customer acquisition in the near term.