"telMAX was built on a simple belief: communities should not have to settle for outdated legacy internet options. This investment gives us the capital needed to move even faster on the next stage of our growth plan which expands our delivery of the reliable, high-performance fibre service that Canadians increasingly expect and deserve. We are excited to welcome Hamilton Lane as a new partner in the next chapter of the telMAX story, and we are appreciative of Power Sustainable's continued support as they double down on our vision."

"We believe telMAX represents a compelling opportunity to invest in a business with in-place infrastructure, significant growth prospects, an experienced management team and a path to create long-term value by connecting more communities to critical digital infrastructure. This transaction is a great example of Hamilton Lane's infrastructure capabilities, and our strategy of providing capital solutions to GP partners and their portfolio companies."