Oak Hill and Pamlico have committed substantial equity capital to support this expansion. Initial rollout targets include Webb City, Odessa, Eureka, Nevada, and Harrisonville, with additional towns to follow. The project is expected to improve high-speed internet access for residents and businesses, promote local economic development, and create job opportunities. Reflecting its updated strategy and broader goals, the company has rebranded as Socket Fiber.
In addition to the investment in Socket, Oak Hill and Pamlico also announced a similar investment in IdeaTek Telcom, a Kansas-based fiber internet provider. Socket and IdeaTek will be combined to form a larger regional broadband provider focused on the Midwest. The combined entity aims to reach more than 500,000 homes by 2028. Despite the merger, both companies will retain their existing brands and local management teams.
Socket was co-founded over 30 years ago by George Pfenenger and John Dupuy. Its network currently passes more than 100,000 premises in Missouri. As part of the investment transition, George Pfenenger will step away from daily operations and join the board of directors. Carson Coffman will remain in a leadership role to support stability and continuity. Jim Gleason, a broadband industry veteran with experience working alongside Oak Hill and Pamlico, has been named Executive Chairman of the combined organization.
George Pfenenger said: “We are thrilled to partner with Oak Hill and Pamlico to advance our mission of providing top-tier internet services to communities throughout Missouri and the broader Midwest along with IdeaTek. Both Oak Hill and Pamlico have extensive experience in the broadband sector, and their commitment to infrastructure development make them ideal partners as we scale our operations while maintaining our commitments to existing customers and employees.”
Jeff Butler, Principal at Oak Hill Capital, commented: “At Oak Hill, we believe that access to reliable, high-speed internet represents a fundamental underpinning of economic growth and equal opportunity for all Americans. This acquisition underscores our and Pamlico's history of investing together in digital infrastructure and shared commitment to building leading broadband businesses through partnership, operational support, and strategic investment. We are eager to further extend Socket's high-speed fiber network and outstanding customer service to underserved communities across the Midwest.”
Andrew Tindel, Partner at Pamlico, added: “We are thrilled to invest in partnership with Oak Hill in building upon Socket's and IdeaTek's established track records. We are excited to partner again with [Jim Gleason] and the talented existing Socket and IdeaTek teams to expand the companies' footprints and serve the attractive market opportunity in the Midwest.”
Jim Gleason stated: “I am honored to partner with the talented teams at both Socket and IdeaTek to build a leading Midwest fiber internet service provider. The Socket and IdeaTek teams have built highly attractive businesses with a history of success, and I am excited to further scale these platforms by providing high quality, fiber-based internet service to even more communities in the Midwest.”
