NEW YORK--(BUSINESS WIRE)--Today, funds managed by Blackstone Tactical Opportunities and Blackstone Infrastructure Partners (collectively, “Blackstone”) announced an investment in Hotwire Communications (“Hotwire”), a leading provider of fiber-to-the-home in the United States.
Co-founded in 2000 by Michael Karp and CEO Kristin Johnson, Hotwire’s 100-percent fiber network helps deliver cutting-edge internet and telecommunication services to high-rise multi-dwelling units, gated communities, and homeowners’ associations across Florida, Georgia and the Carolinas. Hotwire has previously been named by Netflix as the fastest consumer internet provider in the country and has industry-leading consumer satisfaction scores.
Jasvinder Khaira, a Senior Managing Director with Blackstone Tactical Opportunities, said: “We are proud to back this team of world-class technology entrepreneurs at Hotwire. Consumers are increasingly seeking state-of-the-art fiber connectivity to meet their growing need for connected devices in their homes, and we believe Hotwire is exceptionally well positioned to capitalize on this rising market demand. We look forward to leveraging Blackstone’s scale to turbocharge Hotwire’s growth with further investment.”
Greg Blank, a Senior Managing Director with Blackstone Infrastructure Partners, said: “We are enormously excited to invest behind the Hotwire management team as they continue their pioneering efforts to deliver best-in-class technology and connectivity. Data proliferation and consumer connectivity are two of Blackstone’s highest conviction themes, and we are pleased to invest in an industry leader. By combining Hotwire’s strong, entrepreneurial business model with Blackstone’s scale, resources, and reach, we see an immense opportunity for continued growth.”
Kristin Johnson, CEO of Hotwire, said: “The Hotwire Team is thrilled with the partnership with Blackstone. We have an aligned vision for both the future of broadband and fiber optic infrastructure, and Blackstone’s broad reach will help Hotwire to continue to scale as a premier provider of telecom and Internet services during a time when digital services are playing an increasingly vital role in all our lives.”
Tactical Opportunities is Blackstone's platform investing globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities in high-conviction themes. Blackstone Infrastructure Partners is the firm’s permanent capital infrastructure platform, which is an active investor across the transportation, digital infrastructure, energy (renewables, utility and midstream) and water and waste sectors.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $649 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Hotwire Communications
Hotwire Communications is a pioneering leader in fiber optic technology, and has been providing cutting edge fiber-based telecommunication services since 2002. Headquartered in Florida with regional offices throughout the Southeastern U.S., Hotwire offers a full suite of services including multi-Gigabit Internet, crystal-clear voice, HD and 4K IPTV, and home automation products custom-tailored to a wide variety of residential and enterprise customers.
Hotwire Communications has received a number of accolades from third-party outlets, including being named 2020 Fastest Business ISP, 2020 Fastest ISP in the Southeast United States, and 2021 Best Gaming ISP in the Southeast United States by PCMag, ranked by Broadband Communities Magazine as one of the Fiber-To-Home Top 100, named 2020 Independent Operator of the Year by Cablefax, and awarded two Silver 2021 Stevie Awards in recognition of the company’s concierge-style, white glove customer service.
