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Ontario & Trumansburg Tel acquired by private equity firm
Ontario & Trumansburg Tel acquired by private equity firm
Oak Hill Capital officially has closed on the purchase of Ontario & Trumansburg Telephone Cos., the largest independently owned telephone company in New York.
The deal originally was announced in October.
The acquisition by New York City-based Oak Hill will enable OTTC to expand its Fiber-To-The-Home network to more underserved markets. OTTC currently provides phone and internet services to more than 12,000 residential and business customers.
Oak Hill has done business with OTTC in the past. In 2017, the private equity firm acquired a subsidiary of the firm, Finger Lakes Technologies Group.
Upstate Fiber Networks (UFN), the competitive division and extension of OTTC, will be providing the fiber network in the Finger Lakes region.
“Partnering with Oak Hill has positioned us for accelerated growth and geographic expansion, providing our customers with reliable service and high-speed connectivity, without compromising our core principles of community values and quality service,” Paul Griswold, president of OTTC and UFN, said in a news release. “We are excited for the opportunity to bring high-speed internet connectivity to customers beyond our current established market.
OTTC and UFN will continue to operate by their respective brand names but are wholly owned by Oak Hill.
The company plans to begin construction of a fiber network later this month in Waterloo, Seneca Falls and Geneva.
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