Key Takeaways
- • Bain Capital and Tillman Global Holdings completed a $1.5 billion investment in Eaton Fiber, alongside Eaton Fiber's acquisition of Ripple Fiber.
- • The capital is earmarked to build fiber networks supporting Verizon's expansion to more than one million locations outside its existing fiber footprint.
- • Eaton Fiber, a wholesale platform set up by Tillman, develops, owns and operates fiber networks used by communications providers across the U.S., with Verizon as the exclusive retail provider of residential and small business service on the network.
- • Verizon acquired the majority of Ripple Fiber's customers and certain network assets in North Carolina and South Carolina.
- • Ripple Fiber's existing shareholders will continue to back Eaton Fiber following the transaction.
Summary
Bain Capital and Tillman Global Holdings have completed a $1.5 billion investment in Eaton Fiber, together with Eaton Fiber's acquisition of Ripple Fiber, according to the primary report. The transaction was first disclosed in July and gives Eaton Fiber the capital needed to build fiber networks that support Verizon's expansion to more than one million locations outside its existing fiber footprint.
Eaton Fiber is a wholesale platform established by Tillman. It develops, owns and operates fiber networks used by communications providers across the United States. Under the structure described, Eaton Fiber funds, builds and runs the network, while Verizon serves as the exclusive retail provider of residential and small business fiber service on it.
As part of the deal, Verizon acquired the majority of Ripple Fiber's customers and certain network assets in North Carolina and South Carolina. Charlotte-based Ripple Fiber, founded in 2021 by chief executive Greg Wilson, serves customers in 10 states and nearly 300 municipalities. Ripple Fiber's existing shareholders will continue to back Eaton Fiber after the transaction.
Eaton Fiber is a wholesale platform established by Tillman. It develops, owns and operates fiber networks used by communications providers across the United States. Under the structure described, Eaton Fiber funds, builds and runs the network, while Verizon serves as the exclusive retail provider of residential and small business fiber service on it.
As part of the deal, Verizon acquired the majority of Ripple Fiber's customers and certain network assets in North Carolina and South Carolina. Charlotte-based Ripple Fiber, founded in 2021 by chief executive Greg Wilson, serves customers in 10 states and nearly 300 municipalities. Ripple Fiber's existing shareholders will continue to back Eaton Fiber after the transaction.
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