Houlihan Lokey Advises GiGstreem
Houlihan Lokey is pleased to announce that GiGstreem, a premier in-building gigabit internet service provider, has secured a $50 million investment from Crestline Investors, Inc. (Crestline) to support the company’s continued growth strategy in deploying its Ubiquitous Wi-Fi platform to multifamily properties across major cities throughout the U.S. The transaction closed on March 26, 2021.
Launched in 2017 and headquartered in New York, GiGstreem is a premier gigabit internet service provider that currently operates in multiple U.S. East and West Coast markets, providing services to commercial business, residential communities, and apartment buildings. With its state-of-the-art technology, GiGstreem offers entire buildings and communities continuous property-wide Wi-Fi coverage on their own private network, which in turn facilitates the next generation of wireless and technology-enabled services, including IoT, smart devices, in-building mobility (including CBRS and Connectivity-as-a-Service) and building management systems.
A portfolio company of RET Ventures and LNC Partners, GiGstreem’s business development is aided in part by RET’s investor network, which includes many of the largest and most innovative multifamily and single-family rental property owners/managers in the country. A leading real estate technology platform with a focus on multifamily, RET has strategic investors who own or manage more than two million residential units across the U.S. and Canada.
With GiGstreem’s plans to continue its growth strategy across major U.S. cities, the investment from Crestline provides GiGstreem with capital that will enable the firm to deploy the necessary infrastructure in order to satisfy the company’s backlog of demand.
Crestline Investors, Inc., founded in 1997, is an institutional alternative investment management firm. Crestline specializes in opportunistic and credit investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity-market-neutral hedge fund and provides beta and hedging solutions for institutional clients. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in London, New York City, Toronto, and Tokyo.
Houlihan Lokey worked as a financial advisor to GiGstreem and assisted in marketing, structuring, and negotiating the transaction on behalf of the company. This transaction further demonstrates Houlihan Lokey’s leading position in advising premier broadband infrastructure companies and service providers in the U.S.
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