Oak Hill Capital is set to acquire Oregon-based fiber provider Hunter Communications from Grain Management.

Financial terms of the transaction have not been disclosed, but it's been confirmed that Grain Management will exit its stake in Hunter.

In an announcement late last week, Oak Hill said it will support Hunter's plans to ramp up its fiber-to-the-premises (FTTP) network expansion plan around its existing fiber footprint in Oregon and Northern California.

Founded in 1994, the company's network has passed approximately 100,000 locations, while Hunter serves more than 25,000 customers across the Pacific Northwest.

Hunter currently operates a 3,000-plus-mile fiber network.

"Our mission is to deliver fast, reliable fiber connectivity and exceptional service to the communities we serve," said Michael Wynschenk, CEO of Hunter Communications. "Their reputation for successfully scaling FTTP assets makes them the ideal partner, and we look forward to building on our momentum together in this next chapter."

The acquisition is Oak Hill's 22nd broadband communications investment, and comes weeks after Oak Hill invested in Ohio-based fiber provider Omni Fiber.

Other recent FTTP deals include strategic investments in Midwest fiber Internet service providers Socket and IdeaTek, plus the sale of Metronet to T-Mobile.

"Hunter has built a strong foundation of residential and commercial fiber operations across the Pacific Northwest—a region where we see significant opportunity to increase network access," added Jeff Butler, principal at Oak Hill.