Bluepeak: Rural Consolidation with Local Flair

Bluepeak has been swiftly and steadily expanding its footprint since its owner, private equity firm GI Partners, acquired competitive cable TV provider Vast Broadband in February 2021. At the time of the acquisition, Vast’s cable network passed 150,000 homes in its anchor markets, Sioux Falls and Rapid City (SD). GI’s first order of business was to transition the Vast brand to Bluepeak, a name that “reflects the vision of building a fiber-to-the-home (FTTH) expansion platform that brings true FTTH-based broadband to less competitive communities,” said Bluepeak CEO Rich Fish. Bluepeak’s expansion efforts began in late 2021 and, by the end of fiscal 2022, the company had opened 18 new markets in a footprint that today includes Minnesota, Oklahoma, South Dakota, North Dakota, and Wyoming. By the end of fiscal 2023, Bluepeak will have doubled its operating footprint to 300,000 homes passed. All of the post-acquisition passings have been FTTH.