Data infrastructure investor GI Partners announced on Feb. 13 that it has closed a deal with global investment firm Sixth Street, making Sixth Street a strategic investor in Florida-based Blue Stream Fiber.
Blue Stream, a regional broadband and television product provider in Florida, operates in housing developments and neighborhoods under long-term, contracted bulk service agreements.
CEO of Blue Stream, Joe Canavan, said in a press release, “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.”
GI Partners reports that the transaction will provide additional resources to expand Blue Stream into new markets and improve existing services. GI Partners will maintain its status as the majority stakeholder in the Blue Stream.
Bornah Moghbel, co-founder and partner of Sixth Street, said in the same press release, “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.”
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