Everside Capital Partners Announces Exit of US Internet
September 2025
Everside is pleased to announce the full exit of our investments in US Internet Corp (“USI” or the “Company”) upon the sale to Metronet, one of the nation’s fastest-growing fiber-to-the-home builder now owned by a joint venture of T-Mobile and KKR.
USI, formed in 1995 by Travis Carter and Kurt Lange, is headquartered in Minnetonka, MN and is a pure play fiber company offering residential and commercial internet services in the greater Minneapolis area. Since 2010, the Company has invested heavily in fiber infrastructure and although competing against much larger competitors, USI has been able to achieve a disproportionately high penetration rate of single-family homes and wired multi-dwelling units. The USI network is now accessible by more than 140,000 homes and businesses in and around Minneapolis.
Everside, together with one of our trusted SBICs, originally partnered with USI and its management team in 2019 by providing debt to finance the growth and the expansion of USI’s network and infrastructure. Subsequently in 2021, Everside deepened its relationship with the Company by becoming a significant shareholder, continuing to support the rapid expansion of USI.
Travis Carter, USI’s co-founder and CEO, said, “We founded USI 30 years ago to deliver state-of-the-art connectivity to Minneapolis and nearby communities. As we step away, we’re proud of what we’ve built and grateful to partners like Everside for their support and shared commitment along the way.”
“It’s been a privilege to partner with Travis, Kurt, Tim, and the exceptional team at USI in scaling the business and driving meaningful growth. This successful exit is a testament to their hard work, vision, and relentless execution—and we’re proud of what we’ve accomplished together” said Everside’s Co-Founder, Moritz Poehl.
Everside is an SEC-registered investment advisor, as well as a SBIC (Small Business Investment Company) license holder based in New York, NY. With $2.5 billion in assets under management across its funds, Everside partners with leading SBIC managers in the lower middle market through its primary and secondary investing strategies, and also makes direct credit and equity investments in small businesses through its direct investing strategies. As a flexible capital provider, Everside offers debt and structured equity solutions for recapitalizations, acquisitions, liquidity events, and management buyouts.
For more information, please visit us at everside.com.
*This communication is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security or of any fund or account Everside Capital Partners, LLC (the “Adviser”) manages or offers. Although the information provided herein has been obtained from sources which the Adviser believes to be reliable, we do not guarantee its accuracy, and such information may be incomplete or condensed. Registration with the SEC does not imply (i) a certain level of skill or training or (ii) an endorsement by the SEC. The information is subject to change without notice and the Adviser has no obligation to update you.
This document should not be the basis of an investment decision. An investment decision should be based on your customary and thorough due diligence procedures, which should include, but not be limited to, a thorough review of all relevant term sheets and other offering documents as well as consultation with legal, tax and regulatory experts. Statements made in this release include forward-looking statements which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” or believe,” or other variations thereon. Certain information contained herein constitutes opinions, intentions, or beliefs of the Adviser, which may be preceded by the terms “belief,” “opinion,” or other similar terms. Such statements of “opinion” merely represent the Adviser’s state of mind and should not be construed as a material statement of fact. Any use of adjectives or superlatives included herein are a good faith opinion of the Adviser including but not limited to language such as “exhaustive,” “superior,” or “leading,” and should not be construed as material statements of fact. Further, other third parties may not agree with the opinions of the Adviser.