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Essex Capital Closes $7.5MM Growth Capital Financing for Broadband Infrastructure

December 17, 2020, 08:10 AM
Filed Under: Communications

Essex Capital Group recently arranged $7,500,000 to fund the recapitalization of Broadband Infrastructure, Inc. a high growth company based in Greer, SC. Broadband is uniquely positioned as an installer of 5G fiber optic technology for investment-grade credits like major telecom companies, government entities, and large multinational companies such as Michelin North America and BMW.

As a part of the financing, Essex was able to recapitalize Broadband's existing debt outstanding while also arranging a delayed draw term loan structured to finance a large new 5G fiber optic technology contract.

“Broadband needed a true partner to work with us as our capital needs were rapidly changing throughout 2020. Rob and the team at Essex Capital built a relationship with us over many months, taking the time to understand our business, subsequently going to market seeking the structure and amount of capital we needed to continue the company's rapid growth. It was a pleasure to work with Essex to close on this financing and we look forward to our continued relationship.” commented Braddock Cunningham, CEO, Broadband Infrastructure, Inc.

Essex Capital acted as the exclusive financial advisor for this transaction.

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