Antin acquires majority stake in OpticalTel
Antin Infrastructure Partners (Antin) confirms that it has acquired a majority interest in OpticalTel, a fibre broadband provider in Florida, for an undisclosed sum.
“We are thrilled to be partnering with Antin as we enter the next chapter of OpticalTel’s journey," said Luis Rodriguez, CEO and president of OpticalTel.
"The strength of our relationships in the region speaks to our ability to deliver best-in-class technology and connectivity to our customers. With Antin’s support, we are excited to scale and continue executing at the highest level for those we serve.”
OpticalTel delivers high-speed internet and telecoms services, with a focus on residential bulk contracts to customers located in homeowners and condo-owners associations in the US.
Antin’s investment, its sixth investment through its mid cap fund, will support OpticalTel in the next stage of its growth, which includes expanding its geographic footprint throughout the region.
“Since founding OpticalTel 18 years ago, I have sought to provide essential connectivity services to those in my community," said Mario Bustamante, founder of OpticalTel.
"I am grateful to all those that helped build OpticalTel over the years and for Antin’s commitment to support the team going forward.”
For his part, Bustamante will retain an ownership stake in OpticalTel and remain on the board of directors. Luis Rodriguez, CEO and president, will continue to lead the company with the support of its existing management team.
“We see this partnership with the OpticalTel team as an immense growth opportunity," said Kevin Genieser, senior partner at Antin.
"Fibre is at the core of modern infrastructure, providing mission-critical, low-latency bandwidth services to a customer base that has increasing demand for data. We believe OpticalTel is very well-positioned to meet this need in the fast-growing Florida market.”
Subject to customary regulatory approvals, the transaction is expected to close in early 2023.