Houlihan Lokey Advises Point Broadband

Houlihan Lokey is pleased to announce that Point Broadband, a leading provider of high-speed, fiber-to-the-premise internet in small-town and underserved markets across the United States, announced it has signed a definitive agreement to combine with Clearwave Fiber, creating a scaled, independent fiber platform. This transaction includes all Clearwave Fiber assets other than the Southern Illinois operations that are being purchased by Metro Communications.

Upon closing, the combination will create one of the largest independent fiber operators in the United States, operating across 12 states and currently reaching more than 500,000 homes and businesses with fiber. David Armistead, CEO of Clearwave Fiber, will serve as CEO of the combined company, and John Cinelli, Chairman of Point Broadband’s board of directors and a founder and former CEO of Metronet, will serve as Chairman. Under their leadership, the platform is positioned to drive significant growth and aims to double in size in the near term through a combination of organic builds and M&A.

The combined company will be jointly controlled by GTCR and Berkshire Partners, both of which have committed significant growth capital to support continued organic builds and M&A. Cable One, a current investor in both Point Broadband and Clearwave Fiber, will contribute its equity investment in Clearwave Fiber into the go-forward company and remain a significant shareholder.

Point Broadband, headquartered in Opelika, Alabama, was founded in 2017 with the mission of delivering a superior broadband solution to consumers and businesses in small-town and rural America. The company currently operates in 10 states across the United States, predominantly in the Southeast and Midwest, and continues to expand its network, driven by a mission to improve lives through fiber technology and deliver best-in-class customer care. The company is backed by leading private equity firms GTCR and Berkshire Partners.

Formed in 2022 through a joint venture among Cable One, GTCR, The Pritzker Organization, and Stephens Capital Partners and headquartered in Savannah, Georgia, Clearwave Fiber is a provider of fiber internet services to residential and commercial customers across the Southeast and Midwest.

Houlihan Lokey served as financial advisor to Point Broadband. The transaction is expected to close in the first half of 2026, subject to customary closing conditions and regulatory approvals.

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