M&A
The investment fully funds Eaton Fiber’s acquisition of North Carolina-based Ripple Fiber and will send Ripple’s customer base to Verizon.
Edited by Brad Randall, Broadband Communities
July 29, 2026 — Bain Capital and Tillman Global Holdings are putting $1.5 billion behind Eaton Fiber to help fuel a major push for Verizon’s fiber broadband network across the country, according to a joint release issued Wednesday.
The investment, led by Bain Capital’s Special Situations team, fully funds Eaton Fiber’s acquisition of North Carolina-based Ripple Fiber alongside its next wave of network buildout, the release said.
The companies say it is the first step in Eaton Fiber’s strategy to bring Verizon fiber to more than a million homes and businesses sitting outside Verizon’s traditional footprint through both new construction and acquisitions.
Ripple Fiber has expanded their footprint quickly over the past few years, operating in multiple states from Massachusetts to the Carolinas. Courtesy photo
The move also expands on a commercial agreement Eaton Fiber and Verizon inked back in October 2025, the joint release states.
Under that arrangement, Eaton Fiber handles the heavy lifting—funding, building, and maintaining the wholesale network—while Verizon steps in as the exclusive retail provider for residential and small business customers.
As part of the deal, Verizon will take on Ripple Fiber’s existing customer base, transitioning them over to Verizon’s platform.
Verizon is also picking up a portion of Ripple Fiber’s network assets located in North and South Carolina that sit close to or within its existing footprint, the July 29 announcement said.
The release notes that existing Ripple Fiber investors, Platform Investment Partners and KLT, will remain backed alongside Tillman and Bain Capital.
The deal is expected to close before the end of 2026, pending regulatory approvals.
Some AI tools also assisted in the crafting of this report.
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