Fiber-to-the-home company Wyyerd Fiber is working with TD Securities on a sale process, said sources familiar with the matter.

The auction process is in the early stages, the sources said.

The Carlyle Group acquired a majority stake in Wyyerd in early 2021, according to a Federal Communications Commission filing in February of that year.

Since then, the company has grown through asset acquisitions and organic initiatives.

Founded in 2017, it has expanded beyond the Phoenix market, reaching as far west as San Diego while densifying its presence throughout its home state.

In 2023, company executives secured a first close on a senior secured credit facility led by Woodforest National Bank, together with joint lead arrangers Third Coast, Sunflower, Cross First and Texas Capital Bank, as well as Axiom and ING Capital, executives said in a statement.

According to Infralogic data, Wyyerd closed on a USD 250m revolver with a five-year tenor.

Company executives said on 21 May that the company acquired fiber-optic assets from Ting Fiber and Conterra Networks in certain Arizona markets.

The company’s network is available to consumers in 14 cities in California and Arizona with its top areas including Chula Vista, California, and Surprise, Arizona, according to industry data provider Broadbandnow.com.

Wyyerd targets multifamily properties, businesses and enterprises, according to its website.

Carlyle, TD and Wyyerd did not respond to requests for comment.