The investment supports Vero's next phase of growth, accelerating the expansion of its fiber-to-the-premise ("FTTP") and wholesale fiber networks as well as continuing strategic M&A across new and existing U.S. markets.
In connection with the transaction, Brent Burnett, Head of Infrastructure and Real Assets, and Peter Udbye, Principal of Infrastructure and Real Assets, at Hamilton Lane, along with Wali Bacdayan, Partner at Braemont Capital, will join the Board as value-add partners. Rand Lewis, Managing Partner at Delta-v Capital will continue to serve on Vero's Board.
"We are thrilled to announce this financing, which will enable Vero to build new fiber infrastructure to data centers, homes, schools, cell towers and businesses. Further, we will continue to be on the lookout for attractive acquisitions, all while we consistently deliver high-quality service to our customers," said Matt Erickson, CEO of Vero Networks. "We are fortunate to have an amazing team here at Vero and to be supported by long-term strategic investors, welcoming Braemont and deepening our existing relationships with Hamilton Lane and Delta-v. Their combined experience in digital infrastructure and commitment to growth-oriented businesses make them ideal partners for Vero's next chapter."
"We have worked with Vero's leadership team for two decades. They are world class operators with a fantastic record of value creation in Fiber," said Rand Lewis. "We have a strong conviction in the company's ability to execute on both organic and acquisition-driven opportunities. This ...
