Broadband Infrastructure Inc., Recapitalized for 2021 Growth
NEWS RELEASE—For Immediate Release:
Greenville, SC, January 4, 2021: Broadband Infrastructure Inc., (BbI), the parent company of Carolina Underground Solutions, LLC and Absolute Technologies, LLC, kicks off 2021 with closing on a funding and recapitalization deal with Emigrant Business Credit providing $7.5 million in total capital.
BbI was recently recognized by SC BIZ NEWS as the number-one fastest-growing small company in the state of South Carolina. This new capital provided by Emigrant will enable BbI to finance its exceptional growth and allow the company to accommodate the extraordinary pipeline of business. “We are in an industry boom, based on the massive fiber optic infrastructure buildouts taking place across the country” said Brad Cunningham, BbI CEO, “and these buildouts will likely go on for the next 10 years. Securing access to significant capital is critical to growth and long-term success for the BbI team and our customers.”
Cunningham added, “We have an amazing team to answer the call of this industry and we are extremely excited and blessed to be positioned to do so. We are working hard to capitalize on this opportunity to expand our robust growth.”
The deal was facilitated by Essex Capital Group of Tampa, FL. On the BbI side, team-member Allen Veach sourced the deal.
.About Broadband Infrastructure, Inc. (BbI): Broadband Infrastructure Inc and its subsidiaries Carolina Underground Solutions (a 2019 “fastest growing” finalist) and Absolute Technologies, provide turnkey telecommunications infrastructure solutions enabling the future of highspeed connectivity across the US. For more information visit BbI at https://broadbandinfrastructure.com/
About Essex Capital Group: Essex Capital Group, Inc. is a Tampa, Florida-based corporate finance firm serving small and middle market privately-held companies located throughout the United States. With extensive capital markets experience, Essex provides creative solutions to businesses in need of financial restructuring. Typical advisory services include balance sheet recapitalizations with senior and subordinated debt. Since inception in 2003, Essex has successfully raised in excess of $1.0 billion for 130+ corporate finance clients.
About Emigrant Business Credit: Emigrant Business Credit (EBC), headquartered in New York, is a direct lending arm of Emigrant Bank, the largest family-owned and operated bank in the US with over $6 BN in assets. EBC is a diversified credit platform that provides bespoke financing solutions to middle market borrowers across a wide range of industries. EBC’s target customer base is family or management-owned businesses that have outgrown their existing banking relationship and are looking for a new financial partner to support their next phase of growth