telMAX Secures $215 Million Growth Financing from Hamilton Lane and Power Sustainable
telMAX, Ontario's leading provider of pure fibre internet services, has secured over $200 million in new growth capital through a structured investment led by funds managed by Hamilton Lane (Nasdaq: HLNE) and an upsized credit facility with its existing financing partner, Power Sustainable Infrastructure Credit. The combined transactions include a $105 million investment from Hamilton Lane and an additional $110 million increase to the company's credit line provided jointly by PSIC, Palistar Capital, and MidStar Capital. This significant capital injection will accelerate telMAX’s expansion across key regions in Ontario such as Burlington, Brampton, and Mississauga. The funding follows rapid network growth since 2025 into areas like Markham, Barrie, Oakville, and the Greater Toronto Area (GTA). CEO Michael Strople emphasized that this financing will enable telMAX to deliver high-performance fibre services in underserved markets. The investment reflects strong institutional confidence in telMAX’s business strategy. Hamilton Lane's entry as a new partner is driven by the company's disciplined execution, while Power Sustainable and its partners are doubling down on their commitment.
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Topics: credit_facility fibre_networks private_equity_investment telecommunications