Posted on May 5, 2017
Litestream Holdings, a Florida-based provider of video, broadband and phone services statewide, announced the arrangement of a $7,225,000 financing facility from BankUnited, in addition to a further multi-million dollar facility to fund the construction of new fiber cable systems in the markets it serves across Florida.
“We are very pleased to bring this financial horsepower to our growth opportunities in both the Naples and St Johns County markets,” said JD Trudel, Litestream’s Southwest Florida General Manager. “With 15 new communities in Naples alone, Litestream has been building a reputation for a high level of service, both during the installation process and now years after our systems are put in place. Our company is founded on delivering this level of service to HOA-managed communities in Florida, and our growth is based on fulfilling this pledge every day. With this new financing facility in hand, our ability to respond to opportunities to add many more communities has now grown.”
Litestream’s financing partner in this growth is BankUnited, a major Florida-based bank with over $28 billion in assets. “We have gotten to know Litestream’s leadership over a several-year period, and are very pleased to become Litestream’s financing partner. We are pleased to provide the necessary funding to facilitate Litestream’s growth opportunities.” said Vanessa Civalero, Senior Vice President.
“I am gratified that since initiating services in Naples 5 years ago Litestream has been able to establish a growing reputation for a higher level of sustained dedication to service. That is our brand. This financing facility is available for use to build new fiber systems right now, and we very much look forward to putting it to use for discriminating communities in Naples, St Johns County and elsewhere in Florida,” said Litestream CEO Paul Rhodes. “We now have redundant video transport from our headend in Naples throughout Florida, with fiber paths both from Naples to Miami and up the eastern seaboard. As we continue to build Litestream’s brand, highly focused on level of service, more communities approach us for a proposal, and this expansion line is our response to that opportunity.”
Litestream has been providing video, data and phone service to HOA-managed communities in Florida for over 15 years. It is a state-wide franchised full service cable and broadband provider, and a long-time member of the National Cable Television Coop (NCTC). For additional information, please visit www.litestream.net.
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