For FTTP operators weighing a sale, the difference between a good exit and a great one is often a matter of who is advising you.
We are pleased to announce that Stephen (“Steve”) John has joined Stefanov Capital as Head of FTTP Consulting and Senior Advisor.
Steve brings more than four decades of executive leadership, M&A execution, and operating experience in broadband and wireless infrastructure, and joins the firm at a moment when fiber-to-the-premises (FTTP) transaction volume, buyer competition, and valuation complexity are all at historic highs.
A Career Built Inside the Industry
Steve’s background is not advisory at its origin; it is operational. He has founded companies, led turnarounds, executed acquisitions, and grown businesses from startup to exit. That trajectory gives him a perspective that most M&A advisors simply cannot replicate.
Among the highlights of a career spanning more than 40 years in wireless and broadband infrastructure:
- Led the team that defined, built, and launched the business services organization at Charter Communications, one of the largest cable operators in the United States.
- Co-founded American Broadband /UNSi, scaling the business to $70 million in annual revenue before a successful exit to GTT Communications.
- Served as President and CEO of Westell Technologies (NASDAQ: WSTL), where he restructured business units, drove strategic M&A, and repositioned the company around indoor wireless and distributed antenna systems.
- Named to the Inc. Magazine 500 Fastest Growing Companies list four times across his operating career.
- Currently serves on the advisory boards of GigFire & XNET, bringing active operator and technology perspectives to emerging broadband infrastructure models.
He also maintains a long record of mentorship and executive education, including speaking engagements at Whitworth University through the Dean’s Executive Speaker Series, a reflection of a career defined not just by outcomes but by principled leadership.
What This Means for FTTP Operators
The FTTP M&A landscape has shifted materially.
Buyer pools have deepened. Private equity firms, strategic acquirers, and digital infrastructure funds are all competing for quality fiber assets.
At the same time, underwriting has grown more sophisticated. Buyers are scrutinizing take rates, construction cost basis, subscriber churn, and long-term penetration trajectories with greater precision than ever.
That sophistication cuts both ways. Operators who understand how buyers underwrite fiber networks, and who can present their business accordingly, command measurably better terms. Those who enter a process without that preparation often leave value behind.
Steve’s role at Stefanov Capital is to close that gap.
His decades of experience as an operator mean he understands what buyers are looking for, because he has been on both sides of those conversations.
His work with clients will focus on:
- Positioning fiber networks for maximum valuation prior to going to market
- Advising on the operational and financial metrics that drive buyer confidence
- Providingstrategic guidance throughout the full transaction lifecycle, from initial valuation through close
- Supporting operators who want to grow through acquisition before pursuing their own exit
Why Now
Federal infrastructure investment, including funding through the Broadband Equity, Access, and Deployment (BEAD) Program, is actively reshaping the competitive landscape for fiber operators across the United States.
Buyers are pricing that context into their models, so are sellers who are paying attention.
The operators best positioned for premium exits over the next 12 to 36 months are those who start the preparation process now, well before a formal process begins.
Valuation is not a moment. It is a trajectory.
Stephen’s addition to our team reflects that belief. We are building the advisory capacity to help fiber operators not just transact, but transact well.
A Note on Our Approach
Stefanov Capital was built around a simple premise: operators deserve advisors who understand broadband from the inside.
The ISP M&A space has historically been served by generalist investment banks that apply commodity processes to highly specialized infrastructure businesses.
We take a different approach.
Our work is specific, relationship-driven, and grounded in the realities of how fiber networks are valued.
Steve John’s background reinforces everything that distinguishes how we serve our clients.
If you are a fiber operator and beginning to think about timing, structure, or valuation, we welcome an early conversation. The best transactions are the ones that start with a clear-eyed understanding of where you are and where the market is going.
Get in Touch
To speak with Stephen or our advisory team, visit:
https://stefanovcapital.com/contact
or submit your information through our FTTP valuation intake form.
About Stefanov Capital
Stefanov Capital LLC is an M&A advisory firm focused exclusively on the ISP and fiber broadband sector. The firm advises fiber-to-the-premises (FTTP) operators on transactions, valuation strategy, and market positioning.