Bain Capital and Tillman Global Holdings Complete $1.5 Billion Investment in Eaton Fiber and Acquisition of Ripple Fiber

October 13, 2026

Investment supports Eaton Fiber’s plans to expand Verizon fiber broadband to more than one million locations across the United States

BOSTON & NEW YORK--(BUSINESS WIRE)--Bain Capital and Tillman Global Holdings (“Tillman”) today announced the completion of their previously announced $1.5 billion investment in Eaton Fiber, an affiliate of Tillman, and Eaton Fiber’s acquisition of Ripple Fiber.

The transactions, which were announced in July 2026, provide Eaton Fiber with long-term capital and an expanded operating platform to accelerate the deployment of fiber infrastructure supporting Verizon’s expansion into more than one million locations outside its current fiber footprint.

The closing builds on Verizon and Eaton Fiber’s commercial partnership, wherein Eaton Fiber funds, builds, maintains and operates the network, while Verizon serves as the exclusive retail provider of residential and small business fiber services.

In conjunction with the closing, Verizon has acquired the majority of Ripple Fiber’s existing customers, who will transition to Verizon’s fiber broadband platform over time with uninterrupted service. Verizon has also acquired certain Ripple Fiber network assets in North Carolina and South Carolina.

Ripple Fiber’s existing shareholders, Platform Investment Partners and KLT, will continue to back Eaton Fiber alongside Tillman and Bain Capital.

About Eaton Fiber
Eaton Fiber is a wholesale fiber infrastructure platform established by Tillman Global Holdings to develop, own and operate high-capacity fiber networks. The company provides wholesale network infrastructure that enables communications providers to expand broadband availability and deliver next-generation connectivity to homes and businesses across the United States. For more information, visit eatonfiber.com.

About Ripple Fiber
Founded in 2021 by CEO Greg Wilson, Ripple Fiber® is a Charlotte, NC-based 100% fiber-optic network operator serving hundreds of thousands of homes and businesses. Powered by a 10-gig, 100% fiber-optic network, Ripple Fiber is redefining connectivity for communities across 10 states and nearly 300 municipalities while expanding access to reliable, future-proof internet. Ripple Fiber believes the biggest wave starts as a ripple. For more information, visit ripplefiber.com.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 2,000 employees, and approximately $225 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Tillman Global Holdings
Tillman Global Holdings is a U.S.-based holding company that builds and scales leading businesses in essential digital and energy infrastructure. Founded in 2013 by Sanjiv Ahuja, the firm operates with a long-term, operator-led approach, leveraging deep expertise and disciplined capital allocation to address evolving customer and connectivity needs. Tillman applies its hands-on management model to create robust infrastructure platforms that support economic growth and deliver long-term value across the territories in which it operates.

Tillman’s current portfolio companies operate premier fiber networks, mobile tower platforms, hyperscale data centers, in-building connectivity systems, and energy infrastructure. For more information, visit tillmanglobal.com.

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