Blue Stream Fiber Raise Funding From Sixth Street
Summary
GI Partners a leading investor in data infrastructure businesses announced that it has closed a deal to welcome Sixth Street (a leading global investment firm) as a strategic investor in Blue Stream Fiber. The deal provides Blue Stream Fiber with additional resources to expand as it continues to provide leading fiber-optic connectivity services to residential and commercial customers.Based in Coral Springs, Florida, Blue Stream Fiber provides 10 gigabit broadband, as well as video and voice services and 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 grew rapidly throughout Florida, with a focus on providing best-in-class services and customer experience. The investment from Sixth Street will support growth in Blue Stream Fibers existing markets, expansion to additional geographies across the country, and strengthen Blue Stream Fibers commitment to providing excellent customer service.GI Partners will continue holding a majority stake in the company.Lazard acted as exclusive financial advisor and Ropes & Gray LLP served as legal counsel to Blue Stream Fiber and GI Partners.Blue Stream Fibers 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.We are pleased to support Blue Stream Fibers relentless focus on delivering highly reliable, cost-effective connectivity solutions to residential and commercial customers, and were excited to partner with Blue Stream Fibers management team and GI Partners to support the Company through this next phase of growth.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.