Oak Hill Capital Purchases Wire 3, Commits $250 Million to Expansion

Oak Hill Capital has made yet another investment in telecommunications, announcing its acquisition of Florida-based fiber-to-the-home provider Wire 3 from Guggenheim Investments. The price was not disclosed. Oak Hill Capital has committed to invest up to $250 million out of its sixth flagship fund to accelerate the expansion of Wire 3’s fiber network in underserved communities across Florida. Wire 3’s existing management team members will continue leading the business, now as shareholders. Wire 3 provides symmetrical internet speeds of up to 10 Gigabits per second (Gbps). In fact, in early January 2024, the company announced that it had opted to no longer offer any speeds below a gigabit, declaring that megabit speeds are obsolete.