Bain Capital, Tillman invest $1.5 billion in Eaton Fiber to expand Verizon broadband footprint

Eaton Fiber targets more than 1 million new fiber locations over the next few years, with Verizon as the exclusive retail provider for residential and small business services.

Verizon will acquire Ripple Fiber’s existing customers during the transition, along with a small portion of adjacent network assets in North Carolina and South Carolina.

The deal is expected to close before the end of 2026, subject to regulatory approvals. Committed debt financing has been arranged by Societe Generale, SMBC and Future Standard Digital Infrastructure.

Bain Capital agreed to invest $1.5 billion in Eaton Fiber, a Tillman affiliate building wholesale fiber networks to extend Verizon broadband beyond its current footprint.

The funding backs Eaton Fiber’s acquisition of Ripple Fiber, a 100% fiber-optic internet provider and network operator, as the first step in a buy-and-build plan.