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Mainstream Fiber Networks announced Monday that a “significant” investment from New York-based private investment firm Searchlight Capital Partners LP will allow for an expansion of high-speed broadband access to thousands of unserved and underserved rural Indiana communities.
The company, based in the Brown County town of Nashville, said it would add more than 200 jobs as a result.
Mainstream declined to provide a specific dollar amount for the investment. The company also did not give any specific planned locations for the broadband access.
Founder and CEO Bryan Gabriel said the investment will help the company achieve its mission to connect Hoosiers in digital deserts that exist in communities throughout the state.
“Searchlight stands out as a leading investor in broadband networks throughout North America, and its commitment to bridging the digital divide is evident in its status as one of the largest builders of residential fiber networks in the United States,” Gabriel said in a media release. “This investment will empower Mainstream to further our ambitious expansion plans and work with local governments that are actively seeking a reliable partner capable of delivering best-in-class fiber connectivity to all their residents and businesses.”
Mainstream did not provide a timeline for hiring people for the new jobs.
Ajit Pai, a partner at Searchlight and former chairman of the U.S. Federal Communications Commission, credited Mainstream for its work leading up to this point.
“The company has done an excellent job thus far deploying fiber-based infrastructure and serving Indiana residents who previously had substandard Internet access, if they had access at all,” Pai said. “Searchlight is excited to partner with Mainstream and help accelerate its efforts to deploy digital infrastructure across the state, which continues to offer businesses a superior climate in which to grow, operate, and create jobs.”
Mainstream currently serves eight Indiana counties and has regional offices in Corydon, Fowler and Newburgh.
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