Essex Capital Group arranged $7.5 million to fund the recapitalization of Broadband Infrastructure, a Greer, SC-based installer of 5G fiber optic technology for investment-grade credits, including telecommunications companies, government entities and multinational companies.
As a part of the financing, Essex recapitalized Broadband’s existing outstanding debt while 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,” Braddock Cunningham, CEO of Broadband Infrastructure, said.
Essex Capital acted as the exclusive financial advisor for this transaction.
Essex Capital Group is a Tampa, FL-based corporate finance firm serving privately-held U.S. small and middle market companies.