US regional fibre operator Omni Fiber has closed $200m in new financing to accelerate network deployment across the Midwest and Texas.
The funding package includes $150 million in debt (from Stonepeak Credit and Oak Hill Advisors) alongside $50 million in equity from Oak Hill Capital.
The Cincinnati-based operator also secured a $10m working capital facility with Republic Bank & Trust Company.
XGS-PON deployment reaches 340,000 locations
Founded in 2022 by management and Oak Hill Capital, Omni Fiber has invested over $400 million building an XGS-PON fibre network targeting small and mid-size communities. The operator expects to reach approximately 340,000 locations-passed by year end.
The company launched services in December 2022 and now operates in around 60 communities across Ohio, Pennsylvania, Michigan, and Texas, serving residential and business customers. Construction is underway in approximately 25 additional communities, with network design and engineering activities progressing in others. The debt financing follows a previous $150 million facility from Stonepeak Credit announced in July 2024.
Capital accelerates underserved community focus
Darrick Zucco, founding chief executive of Omni Fiber, said the additional capital will accelerate expansion to previously underserved areas. "We welcome our new funding partners OHA and Republic Bank," he said.
Scott Baker, managing partner at Oak Hill Capital, cited strong operating performance and continued growth. "The Oak Hill additional equity investment, together with the incremental financing from debt partners, underscores our belief in the Omni Fiber business model," he said.
Ryan Roberge, senior managing director at Stonepeak, said the firm remains impressed with execution of the business plan. "We are excited to upsize our investment and continue supporting the team and the high-quality fibre network they are deploying for customers in the Midwest," he said.
This capital injection will directly fund the continued build-out of Omni Fiber's high-capacity XGS-PON technology, which supports symmetric 10Gbps transmission over passive optical networks, providing necessary bandwidth capacity for advanced residential and enterprise applications in these smaller market deployments.
