New York, NY (October 22, 2026)—Pilot Fiber, an enterprise connectivity provider in the New York metro area, announced it has entered into a definitive agreement to acquire the New York and New Jersey metro fiber business of Boldyn Networks. This marks Pilot's second acquisition, following the purchase of Extenet's enterprise fiber business in August of this year. In support of this continued growth, Pilot is announcing that it has raised over $330 million in new financing, led by Fengate Asset Management, a leading infrastructure investment manager with more than $20 billion in assets under management. The transactions are expected to close in the second quarter of 2027, subject to customary closing conditions and regulatory approvals.
Boldyn’s metro fiber business assets include a New York City fiber network known for data center connectivity, smart city infrastructure, and enterprise services, as well as a New Jersey fiber network serving commercial and carrier customers throughout the state. Upon closing, Pilot’s owned footprint will contain more than 1,600 route miles of fiber and connect more than 1,200 buildings and 50 data centers. The transaction will significantly extend Pilot's reach into Brooklyn, Queens, the Bronx, Staten Island, and across New Jersey.
"This acquisition unlocks a new level of scale for us," said Joe Fasone, CEO of Pilot. "Boldyn's network reaches deep into the five boroughs to the border of Nassau County, and throughout northern and central Jersey, with strong carrier and enterprise relationships already in place. Now we get to bring the same customer-first experience that's defined Pilot from day one to businesses across a much larger part of the region."
Fengate Asset Management is making its equity investment in Pilot via Fengate Infrastructure Fund V (“FIF V”). The investment is led by its Managing Director and Head of Digital Infrastructure, Warren Roll, who will be joining Pilot’s board of directors.
“Pilot has built one of the strongest enterprise fiber operations in New York, and Boldyn’s network gives it the reach to grow across all five boroughs and New Jersey,” said Warren Roll, Managing Director, Head of Digital Infrastructure at Fengate Asset Management. “Pilot’s end-to-end operating model is the right way to unlock that network’s full potential. We are proud to partner with Joe and his team, and Fengate is fully committed to Pilot’s long-term success.”
The newly acquired assets significantly expand Pilot's reach across the New York metro area, including:
- More than 860 route miles of fiber into New Jersey commercial corridors, including strong presence among healthcare and financial businesses
- Expanded on-net reach into Brooklyn via a dedicated East River crossing, and into the Bronx, Staten Island, and Queens, with fiber extending to the Nassau County border
- Monopole infrastructure supporting low-latency connectivity between major financial exchanges
The acquired business currently serves approximately 100 enterprise, carrier, and institutional customers. Pilot plans to integrate these customers into its business once the transaction closes, extending the same fast service delivery, responsiveness, and knowledgeable support that define the Pilot customer experience.
Pilot will bring its full product suite, including Dedicated Internet Access, Ethernet Transport, Dark Fiber, Wavelength, and IP Transit, to businesses with complex, high-capacity connectivity needs across the combined network.
Boldyn, an existing Pilot customer, will expand its relationship with Pilot and will continue to use the newly combined fiber networks to support its wireless business in the region. Pilot and Boldyn share a commitment to the connected future of New York and New Jersey.
“This strategic relationship with Pilot gives our fiber customers access to a larger network across New York and New Jersey, while allowing us to sharpen our focus on what we do best: deploying wireless infrastructure that keeps people connected where it matters most. We will continue accelerating our wireless connectivity solutions throughout the region, which includes connectivity at public transportation hubs, government facilities, in-building and large venue locations, outdoor small cells, and infrastructure that benefits public connectivity,” said Christos Karmis, Global CEO, Boldyn Networks.
Financial terms were not disclosed. Guggenheim Securities, LLC acted as financial advisor to Fengate; Simpson Thacher & Bartlett LLP as legal counsel; Leo Berwick as tax and financial due diligence advisor. Goodwin Procter acted as legal counsel to Pilot. The Bank Street Group LLC served as exclusive financial advisor to Boldyn Networks in connection with this transaction. Paul Hastings LLP served as legal advisor to Boldyn.
About Pilot Fiber
Pilot Fiber delivers enterprise-grade connectivity to businesses across the New York metro area through complete network ownership and in-house operational expertise. Since 2014, the company has built a network of 1,600+ miles of modern fiber infrastructure throughout the New York metro area, serving 4,000+ businesses across 1,200+ buildings with a full suite of services: Dedicated Internet Access, Ethernet Transport, Dark Fiber, Wavelength, and IP Transit. Pilot's end-to-end ownership model delivers 5-15 day installations in on-net buildings versus the industry standard of 30-90 days—with transparent pricing, 24/7 access to knowledgeable support, and no contracts required. Learn more at pilotfiber.com.
About Boldyn Networks
Boldyn Networks designs, builds, and operates advanced network infrastructure where connectivity matters most. As the world’s leading neutral host provider, Boldyn enables mobile operators, large enterprises, and government agencies to create exceptional connected experiences no matter how complex the environment. From major transport systems, airports, stadiums, campuses, and military bases to industrial hubs and smart cities, Boldyn brings 5G, fiber, WiFi, private 5G networks, and IoT together into tailored resilient, high-performance platforms. Learn more at: www.boldyn.com
About Fengate Asset Management
Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with more than US$9 billion of capital commitments under management. The firm has been investing in infrastructure since 2006 with a focus on mid-market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors. Fengate is one of North America's most active infrastructure investors and developers with a portfolio of more than 45 assets. Learn more at www.fengate.com.
Media Contact: press@pilotfiber.com
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