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Bluepeak, a broadband provider owned by GI Data Infrastructure, has disclosed that a global investment firm has made a strategic investment in the company to accelerate the firm’s expansion strategy.
Rich Fish, the CEO of Bluepeak, said his company is excited about the prospect of brining additional services to communities following a strategic investment from Ares Management’s Infrastructure Opportunities and Alterative Credit strategies.
The size of the investment, announced Feb. 29, was not disclosed in the company’s release but Bluepeak’s announcement said the investment will accelerate the company’s growth across the Great Plains region.
“Bluepeak is committed to providing reliable, high-speed internet and top-tier customer service to our communities,” Fish said, according to Bluepeak’s announcement. “We are incredibly proud of the Bluepeak team’s accomplishments to date.”
Since being acquired by GI Data Infrastructure in 2021, Bluepeak’s announcement said the Rapid City-based company has built fiber routes that connect to over 140,000 homes across five states.
Mark Prybutok, the managing director and co-head of GI Data Infrastructure, said Bluepeak grew beyond GI Data Infrastructure’s expectations.
“We believe this investment positions the company for long-term profitable growth,” he said.
Ares Management Corporation, which calls itself ‘ a leading global alternative investment manager,’ had approximately $419 billion of assets under management, according to a summary of the corporation’s operations.
Joel Holsinger, a co-head of the Ares Alternative Credit strategy, was quoted as having said his team looks forward to working with GI Data Infrastructure and Bluepeak.
“This investment is an example of the collaborative strengths and scale of Ares’ platform, bringing together the Infrastructure Opportunities and Alternative Credit strategies to provide Bluepeak with flexible capital tied to an emerging asset class,” he said.
Keith Derman, co-head of the Ares Infrastructure Opportunities strategy, said Bluepeak “has developed a differentiated fiber platform that provides efficient, reliable, and critical service to families and businesses across the Great Plains region.”
“We are pleased to support the company’s experienced management team with this structured investment, which we believe will help accelerate its expansion strategy into several attractive markets,” Derman said, according to Bluepeak’s release.
