WASHINGTON (dpa-AFX) - Oak Hill Capital, a middle-market private equity firm, on Thursday announced that it has entered into a definitive agreement to acquire a majority stake in Wyyerd Group Holdings LLC, a fiber broadband provider operating in Arizona and Southern California, from Carlyle Group Inc. (CG).
The transaction is expected to close in January 2027.
The financial terms of the transaction were not disclosed.
Wyyerd provides high-speed fiber connectivity to residential and business customers.
The investment aims to accelerate the company's network expansion across and beyond its existing markets.
Carlyle has held a majority stake in Wyyerd since 2021, will retain a minority stake following the transaction.
Under Carlyle's ownership, Wyyerd expanded its network more than twentyfold through strategic acquisitions, network expansion and investment in its leadership and operations.
Carlyle Group closed trading 1.38% higher at $39.06 on the Nasdaq. In the after-hours, the stock further traded 0.18% higher at $39.13.
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