2025 preview: Make way for more fiber M&A

The fiber broadband market is likely headed for more consolidation in the coming year, according to research from consulting firm AlixPartners. In a survey conducted in August 2024, AlixPartners found there are over 400 small fiber providers that are likely to merge or be acquired by larger providers and private equity firms. Some consolidation is expected for 2025, with more going into 2026 and 2027. The survey was fielded amongst 60 fiber executives, as well as private equity firms and investors, with 93 percent saying consolidation is happening or upcoming, and 70 percent of those expecting activity to ramp up over the next year. Overall, there are roughly 1,900 "small-scale" fiber companies in the US, of which 1,000 are electric co-ops or part of an energy firm, says AlixPartners. Of the remaining 900, the firm estimates around 400 are "meaningful candidates for M&A."