(MENAFN- PR Newswire) Strategic investment Backs Blue Stream Fiber's Mission to Provide Exceptional Broadband Services to Homeowner and Condo Associations
CORAL SPRINGS, Fla., Feb. 13, 2024 /PRNewswire/ -- GI Partners, a leading investor in data infrastructure businesses, announced today that it has closed a deal to welcome Sixth Street, a leading global investment firm, as a strategic investor in Blue Stream Fiber ("Blue Stream" or the "Company"). The transaction provides Blue Stream Fiber with additional resources to expand as it continues to provide leading fiber-optic connectivity services to residential and commercial customers.
Headquartered in Coral Springs, Florida, Blue Stream Fiber provides 10 gigabit broadband, as well as video and voice services, over state-of-the-art fiber-optic networks to housing associations and neighborhoods under long-term, contracted bulk service agreements. Since GI Partners' acquisition of Blue Stream Fiber in 2020, the Company has grown rapidly throughout Florida, with a focus on providing best-in-class services and customer experience. The investment by Sixth Street will support growth in Blue Stream Fiber's existing markets, expansion to additional geographies across the country, and strengthen Blue Stream Fiber's commitment to providing excellent customer service.
GI Partners will continue to hold a majority stake in the Company.
"Blue Stream Fiber's customer experience is the foundation of what makes us unique in the fiber-to-the-home space. Through our partnership with GI Partners and Sixth Street, we will build upon our 45-year history and take our first steps towards our national expansion plans," said Joe Canavan, Chief Executive Officer of Blue Stream Fiber.
"We are pleased to support Blue Stream Fiber's relentless focus on delivering highly reliable, cost-effective connectivity solutions to residential and commercial customers, and we're excited to partner with Blue Stream Fiber's management team and GI Partners to support the Company through this next phase of growth," said Bornah Moghbel, Co-Founder and Partner of Sixth Street.
"We are very proud of all that the Blue Stream Fiber team has accomplished since beginning our ownership in 2020 and are looking forward to our new partnership with Sixth Street," said Mark Prybutok, Managing Director and Co-Head of GI Partners Data Infrastructure.
Lazard acted as exclusive financial advisor, and Ropes & Gray LLP served as legal counsel to Blue Stream Fiber and GI Partners.
Simpson Thacher & Bartlett LLP served as legal counsel to Sixth Street.
About Blue Stream Fiber
Blue Stream Fiber provides customers with the most advanced broadband and television products, all over 100% gigabit capable networks. With a 45-year history of providing customers with local and high-touch customer service, Blue Stream Fiber is a welcome alternative and trusted telecommunication partner compared to the incumbent providers. For more information, please visit .
About GI Data Infrastructure
Founded in 2001, GI Partners is a private investment firm with over 150 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale and London. The firm has raised more than $42 billion in capital and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the healthcare, services and software sectors. The real estate strategy focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit .
About Sixth Street
Sixth Street is a leading global investment firm with over $75 billion in assets under management and committed capital. Sixth Street uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. The firm has more than 500 team members including more than 200 investment professionals operating around the world. For more information, visit .
Media Contacts
For Blue Stream Fiber
Linda Richardson
[email protected]
Stephanie Davis
[email protected]
For Sixth Street
Patrick Clifford / Rebecca Vignali
[email protected] / [email protected]
For GI Partners
Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
[email protected]
Gretchen Robinson
Investor Relations
[email protected]
SOURCE GI Partners
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