Oak Hill and Cinelli Family Complete Sale of Metronet

NEW YORK, July 24, 2025 /PRNewswire/ -- Oak Hill Capital ("Oak Hill"), a thematic, middle-market private equity firm, and the Cinelli family today announced that they have completed the sale of Metronet ("the Company"), one of the largest and fastest-growing independent fiber-to-the-home (FTTH) providers in the United States. Metronet will become a wholesale services provider for its retail customers and 100% of its residential fiber retail operations and customers will transition to T-Mobile. In addition, Oak Hill and the Cinelli family will each invest into the new partnership.

Oak Hill first invested in Metronet in 2014 and provided additional capital through multiple funds over the course of its investment. For more than 10 years, Oak Hill has worked closely with Metronet's founders, the Cinelli family, and the Company's management team to build Metronet into a leading FTTH operator in the U.S. Since Oak Hill's initial investment, Metronet has grown by more than 20x across key operating metrics, and today, the Company's fiber network reaches more than 2.6 million locations in over 300 communities across 19 states. 

"After an over 15-year relationship with the Cinelli family and 10 years of partnership with Metronet, we are incredibly proud of the tremendous growth we have achieved together, including expanding the Company's fiber network from 10 small towns in Indiana to operations in 19 states and increasing locations passed by over 30 times," said Benjy Diesbach, Senior Operating Advisor, and Scott Baker, Managing Partner of Oak Hill. "This success is a testament to Metronet's outstanding leadership and commitment to customers, and we look forward to this next chapter for the Company and Oak Hill's continued involvement."

"We're grateful to Oak Hill for their steadfast partnership over the last 10 years and commitment to growing Metronet into the company it is today," said John Cinelli, Co-Founder and current Chairman of Metronet. "When we first founded Metronet 20 years ago, we were focused on bringing hyper fast internet to homes and business, and today have over 2.6 million locations passed—a milestone we could not have achieved without the long-term support of Oak Hill. In addition, their ongoing investment is a testament to their confidence in the future of Metronet, and we are grateful to continue the relationship."

This transaction builds on Oak Hill's Digital Infrastructure strategy of investing in companies where it sees sustained growth opportunity. As high-conviction investors, Oak Hill has scaled its digital infrastructure and FTTH exposure, and today, the firm's FTTH investments span 34 states across the U.S., making Oak Hill one of the largest independent builders of residential fiber in the United States. Oak Hill and its predecessors have completed 29 investments within the firm's Digital Infrastructure ecosystem, with 19 of these investments in the FTTH theme. Oak Hill's exit of Metronet follows the firm's recent investments in fiber internet service providers IdeaTek Telcom and Socket Telecom.

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 110 companies and has raised over $24 billion of initial capital commitments and co-investments since inception. For more information, please visit www.oakhill.com.

About Metronet
Metronet, the nation's fastest-growing fiber-to-the-home builder, is now owned by a joint venture of T-Mobile, America's 5G leader, and KKR, the global investment firm. The company operates its 100% fiber optic networks on a commercial and wholesale basis, with T-Mobile Fiber providing marketing, sales and the customer experience for residential users. In cities across the country, Metronet has been building and operating fiber networks since 2005. Today, more than 2.6 million homes and businesses in more than 300 communities across 19 states have access to Metronet fiber, with new communities added each month. More information on the company can be found at metronet.com.

Media Contacts

Oak Hill Capital
Nadia Damouni / Alex Hinson
Prosek Partners
Pro-OakHillCapital@prosek.com 

Metronet
Scott Shapiro
media@metronet.com

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SOURCE Oak Hill Capital