Oak Hill Capital takes majority stake in Wyyerd Group Holdings

Oak Hill Capital entered into a definitive agreement on 29 October 2026 to acquire a majority interest in Wyyerd Group Holdings from Carlyle, which retained a minority position. Completion was expected in January 2027, subject to regulatory approvals. Chief executive Justin Freesmeier remained at the head of the company. Launched in 2017 and based in Phoenix, Wyyerd builds and operates fibre networks running directly to the premises across Arizona and Southern California, selling broadband subscriptions to households and businesses on the infrastructure it has laid, at speeds reaching 8 gigabits per second. It operates through local teams in each market it serves. Fibre construction consumes capital before it returns any. The network must be built past every home in a district before a single subscriber can be connected, and the investment is recovered over years as households sign up. That pattern suits private ownership, where the build can continue without quarterly scrutiny, and it is why the sector has drawn successive financial owners. Carlyle had held the majority since 2021 and expanded the network more than twentyfold over that period, through acquisitions, construction and investment in the management organisation. For Oak Hill, the purchase was its twenty-fifth in broadband communications and brought its fibre portfolio to nine platforms across 37 states, together passing approximately seven million locations and adding more than one million a year. It intended to extend Wyyerd’s network within its existing markets and beyond them. Lazard and TD Securities advised Wyyerd, with A&O Shearman as legal counsel, while Guggenheim Securities advised Oak Hill, with Paul, Weiss as counsel.

By taking control of Wyyerd Group Holdings, Oak Hill Capital continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Hunter Communications in 2025.