Berkshire invests in internet services provider Point Broadband

• Point Broadband was founded in 2017
• Bank Street Group LLC served as financial advisor to Point Broadband and GTCR on the transaction
• Berkshire Partners targets companies in the consumer, healthcare, services & industrials, and communications & technology sectors

Berkshire Partners has made a significant investment in Opelika, Alabama-based Point Broadband, a provider of high speed fiber-to-the-premise internet services to residential and business customers in select small town and rural markets in the U.S. No financial terms were disclosed.

Point Broadband is backed by GTCR, which made an investment in the business in 2021.

Point Broadband was founded in 2017.

“We believe that access to reliable high speed broadband is a fundamental underpinning of economic opportunity,” said Beth Hoffman and Drew Walker, managing directors at Berkshire Partners, in a statement. “We are thrilled to be partnering with Todd and his team, alongside GTCR, as Point Broadband expands its fiber-based internet access and exceptional customer service to many more underserved communities across the U.S.”

Bank Street Group LLC served as financial advisor to Point Broadband and GTCR while Kirkland & Ellis LLP served as legal advisor. Ropes & Gray LLP served as legal advisor to Berkshire Partners.

Berkshire Partners targets companies in the consumer, healthcare, services & industrials, and communications & technology sectors.

Founded in 1980, GTCR currently manages over $26 billion in equity capital. GTCR is based in Chicago.