Blue Stream Fiber secures strategic investment from Sixth Street

Blue Stream Fiber, a leading provider of fiber-optic connectivity services, has received a strategic investment from Sixth Street, a global investment firm. The deal, announced on Tuesday, will provide Blue Stream Fiber with additional resources to expand its network and customer base across the country.

Blue Stream Fiber, headquartered in Coral Springs, Florida, offers 10 gigabit broadband, video and voice services over state-of-the-art fiber-optic networks to housing associations and neighborhoods under long-term contracts. The company, which was acquired by GI Partners, a leading investor in data infrastructure businesses, in 2020, 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, as well as expansion to new geographies. It will also strengthen Blue Stream Fiber’s commitment to providing excellent customer service.

GI Partners will continue to hold a majority stake in the company.

Joe Canavan, Chief Executive Officer of Blue Stream Fiber, said: “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.”

Bornah Moghbel, Co-Founder and Partner of Sixth Street, said: “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.”

Mark Prybutok, Managing Director and Co-Head of GI Partners Data Infrastructure, said: “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.”

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.

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