Tachus Reaches 50,000 Passed Homes Milestone, Increases Capital Raised to Over $190 Million to Accelerate Expansion of Greater Houston Area Fiber Network
Tachus, LLC, one of the fastest-growing fiber-to-the-home Internet providers in the Lone Star State, today announced that it has passed over 50,000 homes and has closed on additional capital, bringing the total capital raised to date to over $190 million. This has been accomplished in a little over three years since its founding in late 2018.
"Tachus is proud to serve the communications and entertainment needs of residents in the Greater Houston area with our powerful fiber Internet technology," said Tachus Chief Executive Officer Hal Brumfield. "Today, we are particularly excited to announce two major milestones. First, more than 50,000 Houston-area homes now have access to Tachus' best-in-class fiber Internet. Further, we are delighted to announce that we have a greater number of local partners on board who recognize the full potential of the Tachus brand and who wish to share in our continued success."
In October 2021, Tachus announced a significant growth equity investment from its current financial sponsor, Houston-based Crosstimbers Capital Group. Since then, a syndication of Houston-area banks co-led by Hancock Whitney Bank and Woodforest National Bank have upsized Tachus' senior credit facility with both existing and new lenders.
Between both equity and debt, Tachus has raised a total of over $190 million. The company will use this capital to accelerate its fiber network expansion across the Greater Houston area, with plans to pass an additional 100,000+ homes by the end of 2023 and roll out its best-in-class broadband offerings to businesses along its network.
"Over the past year, Tachus has taken a number of significant steps to best position the company for rapid growth as we seek to expand into new markets," said Tachus Chief Strategy Officer Carter Old. "With this added capital from our outstanding financial partners, we are both accelerating the pace of our overall home passings and expanding our geographic focus around the Greater Houston area.
"We are also very excited to be launching a new business offering, as there are a number of small-to-medium businesses along our network routes who have been patiently awaiting our service. In addition, there are several other strategic initiatives in the works that we look forward to formally announcing later this year," Old added.
While much has changed since its founding in 2018, The Woodlands, Texas-based company has remained true to its core mission to bring blazing fast, reliable Internet service to communities in the Greater Houston area, with an emphasis on transparency and customer relationships.
From the start, Tachus has emphasized its core values of community, integrity and simplicity, focusing on providing access to blazing fast fiber Internet, prompt and thorough customer service with no strings attached, no price increases, no extra taxes or fees, no data caps, and no throttling.
Over the past three years, the company has created a special culture that treats customers like family. With now over 130 employees, growing from 73 employees in January 2021, Tachus is bringing high-paying jobs to the local community.
To accommodate this continuing, robust growth, Tachus recently moved its company headquarters to 3831 Technology Forest Blvd. in The Woodlands. This new workspace will provide an ideal environment for Tachus employees to continue building a unique relationship with its customers and communities.
About Tachus
Headquartered in The Woodlands, TX and founded in 2018, Tachus, LLC is a fiber broadband ISP and telecom provider. Tachus believes customers deserve fast, reliable Internet that requires no explanation. In doing so, Tachus is revolutionizing the way residential customers receive their home broadband, by offering unlimited, enterprise-grade Internet services at a lifetime fixed rate, all paired with outstanding, local customer service. With a network that is available to over 50,000 homes and serves over 14,000 customers, Tachus continues to rapidly expand its fiber network to other parts of the Greater Houston area. Please visit www.tachus.com for more information.
About Crosstimbers
Based in Houston, TX, Crosstimbers Capital Group provides formation capital to scalable platform companies that acquire, develop and operate hard assets. For more information, visit www.crosstimbers.com.
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