Strategic Investment to Accelerate Hunter’s Fiber Network Expansion

, /PRNewswire/ – Oak Hill Capital ("Oak Hill"), a thematic, middle-market private equity firm, today announced that it has entered into a definitive agreement to acquire Hunter Communications ("Hunter" or "the Company"), Oregon’s largest privately owned fiber-optic internet provider. Oak Hill’s investment and long-standing digital infrastructure expertise will assist Hunter in accelerating its fiber-to-the-premises ("FTTP") network expansion plan around its existing fiber footprint in Oregon and Northern California. Financial terms were not disclosed.

Founded in 1994, Hunter is a leading regional residential, commercial, and enterprise fiber-optic internet provider operating more than 3,000 route miles of fiber network passing approximately 100,000 locations. Headquartered in Medford, Oregon, the Company delivers multi-gig symmetrical speeds, low latency, and high network availability to more than 25,000 customers across the Pacific Northwest. Oak Hill’s acquisition of Hunter marks the firm and its predecessors’ 22nd broadband communications investment and comes at a time when demand for high-speed broadband is increasing, in particular in the types of tier II and tier III markets Hunter targets.

"We are excited to partner with Oak Hill, whose long-standing commitment to building leading broadband businesses aligns with Hunter’s vision for continued growth and service excellence," said Michael Wynschenk, CEO of Hunter Communications. "Our mission is to deliver fast, reliable fiber connectivity and exceptional service to the communities we serve. Their reputation for successfully scaling FTTP assets makes them the ideal partner, and we look forward to building on our momentum together in this next chapter."

"Hunter has built a strong foundation of residential and commercial fiber operations across the Pacific Northwest—a region where we see significant opportunity to increase network access," said Jeff Butler, Principal at Oak Hill. "We look forward to partnering with Michael and the Hunter team in an effort to expand the Company’s fiber footprint, enhance service offerings, and continue delivering essential, high-speed connectivity to homes and businesses."

As part of the transaction, Grain Management is exiting their stake in Hunter. "We are incredibly proud of Hunter’s transformation into a premier regional fiber provider and are excited to see the company enter its next phase of growth. Hunter truly embodies Grain’s commitment to advancing digital infrastructure and delivering value to communities, and our partnership with the entire Hunter team has fueled the company’s momentum and created new opportunities for Hunter to thrive," said Michael McKenzie, Managing Director at Grain.

Oak Hill and its predecessors have been investing in the broadband and communications space for over 30 years within its long-standing digital infrastructure investment theme. With the acquisition of Hunter, Oak Hill’s digital infrastructure portfolio consists of eight FTTP platforms that are active across 35 states, passing approximately five million locations with fiber, and building more than one million new locations per year. Oak Hill’s recent FTTP transactions include strategic investments in Midwest fiber internet service providers Socket and IdeaTek, as well as the sale of Metronet.

The Bank Street Group LLC served as exclusive financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Oak Hill in connection with this transaction. Alston & Bird served as legal counsel to Grain. The transaction is subject to customary closing conditions and regulatory approvals.

**About Oak Hill Capital **Oak Hill Capital is a thematic, middle-market private equity firm focused primarily on investing in resilient, defensive growth-oriented services businesses in North America. The firm takes a systematic approach to identifying and building enduring franchises aligned with high conviction themes in (i) digital infrastructure; (ii) financial services; and (iii) essential services. Headquartered in New York City, with offices in Menlo Park and Stamford, over its ~40-year history, Oak Hill has invested in over 115 companies and has raised over $25 billion of initial capital commitments and co-investments since inception. For more information, please visit www.oakhill.com.

**About Hunter Communications **Hunter is headquartered in Medford, Oregon, where the company has established a legacy of service excellence and commitment to local communities. With multi-gig speeds, no data caps, competitive pricing, and customer service representatives who genuinely care, Hunter’s 3,000-plus mile fiber network is nationally recognized for performance and reliability. To learn more, visit hunterfiber.com.

Media Contacts

**Oak Hill Capital **Trevor Gibbons / Alex Hinson Prosek Partners [email protected]

**Hunter Communications **Anne Tetamore [email protected]

SOURCE Oak Hill Capital