June 29, 2022

Blackstone Acquires Stake in US Fiber Network Provider Hotwire | News

Blackstone, which invests on behalf of its opportunistic and open-ended infrastructure funds, has acquired a stake in US fiber-optic network provider Hotwire Communications.

Funds managed by Blackstone Tactical Opportunities and Blackstone Infrastructure Partners invested an undisclosed amount to purchase a stake in Hotwire, a company co-founded in 2000 by Michael Karp and CEO Kristin Johnson.

It is understood that Blackstone now owns a 50% interest in the fiber-to-the-home provider headquartered in Florida.

Jasvinder Khaira, Senior Managing Director of Blackstone Tactical Opportunities, said: “Consumers are increasingly looking for advanced fiber optic connectivity to meet their growing need for connected devices in their homes, and we believe Hotwire is doing exceptionally well. positioned to capitalize on this growing market demand.

“We look forward to leveraging Blackstone’s scale to drive Hotwire’s growth with additional investments. “

Greg Blank, Senior Managing Director, Blackstone Infrastructure Partners, said: “Data proliferation and consumer connectivity are two of Blackstone’s most compelling themes, and we are thrilled to invest in an industry leader.

“By combining Hotwire’s strong and entrepreneurial business model with the scale, resources and reach of Blackstone, we see a huge opportunity for continued growth. “

Kristin Johnson, CEO of Hotwire, said: “We have an aligned vision for the future of broadband and fiber-optic infrastructure, and Blackstone’s broad reach will help Hotwire continue to evolve as a leading provider of telecommunications services and the Internet at a time when digital services play an increasingly vital role in all of our lives.

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