Daily News: July 10, 2013

GE Capital, Webster Bank Secure Debt Facility for TVC

Tech Valley Communications (TVC), a portfolio company of Riverside Partners, announced it secured a new debt facility through GE Capital, with Webster Bank as the co-lender. The company will use the proceeds to pursue both strategic and organic growth opportunities, including support for M&A activities, capital expenditures for further network expansion and new service rollouts.

“This new credit facility helped fund our recent acquisition of the TelJet Longhaul fiber network in Vermont and allows us to accelerate the Company’s expansion plans as we continue to build out our network and seek additional acquisition targets,” stated Kevin O’Connor, chief executive officer and co-founder of Tech Valley Communications.

TVC, headquartered in Albany, NY, provides fiber optic data, voice and high-speed Internet services to enterprise, carrier and wholesale customers in upstate New York and northern New England with connectivity to Canada.

Riverside Partners is a middle-market private equity firm that focuses on growth oriented companies in the healthcare and technology industries.