Blackstone Announces Investment in Hotwire Communications in Partnership with Founders
April 29 2021 - 3:44PM
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210429006145/en/
Paula Chirhart 1-347-463-5453 Paula.Chirhart@blackstone.com
Karla Thatcher 1-754-301-4466 Karla.Thatcher@hotwiremail.com
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