Ziply Fiber collects $450m from private equity syndicate

The investors include WaveDivision Capital, Searchlight Capital Partners, PSP Investments, BCI and CPP Investments.

  • The capital infusion will be used by Ziply for its ongoing fiber network expansion in the Northwest
  • Ziply has named Chris Denzin as chief operating officer
  • The company also promoted Rob Griffith to the new position of chief, fiber design and construction to oversee all fiber expansion

Kirkland, Washington-based Ziply Fiber, a provider of fiber internet service, has raised $450 million in financing. The investors include WaveDivision Capital, Searchlight Capital Partners, Public Sector Pension Investment Board, British Columbia Investment Management Corp and Canada Pension Plan Investment Board.

The capital infusion will be used by Ziply for its ongoing fiber network expansion in the Northwest.

Ziply has named Chris Denzin as chief operating officer. In his new role, he will oversee residential and commercial sales, customer care, field operations and product development. The company also promoted Rob Griffith to the new position of chief, fiber design and construction to oversee all fiber expansion.

“We originally partnered with the Ziply Fiber team to provide reliable, quality fiber internet access in the Northwest,” said Eric Zinterhofer, founding partner of Searchlight Capital Partners, in a statement. “Harold and the team at Ziply have exceeded our expectations, and they will continue to deliver high-performance, fiber-based connectivity to more markets at a time when the need for best-in-class symmetrical speeds has never been higher”.

Founded in 2003 by broadband entrepreneur Steve Weed, WaveDivision is a private investment firm focused on the broadband industry.

Searchlight has more than $10 billion in assets under management and offices in New York, London and Toronto.