Digerati Technologies’ operating subsidiary, T3 Communications, closed a $20 million senior secured credit facility with Connecticut-based Post Road Group. The facility enables continued expansion of Digerati’s U.S. operations through organic growth efforts and targeted acquisitions.
The initial funding of $14 million from the $20 million multi-draw facility was used to close Digerati Technologies’ recent acquisition of Nexogy and ActivePBX, and to refinance existing debt. Future draws may be used to fund additional acquisitions within the company’s M&A pipeline of unified communications as a service (UCaaS) providers.
“With investing expertise in the technology, media and telecommunications (TMT) industries and a culture that aligns with that of our company, Post Road Group is an ideal financial partner for us during this key phase of our evolution,” Arthur L. Smith, CEO of Digerati Technologies, said. “These milestone transactions and related financing give us a new currency with which to support both organic growth and future accretive acquisitions.”
“We are excited to become Digerati’s capital partner,” Andrew Runk, managing director of Post Road Group, said. “With these recent acquisitions, Digerati’s platform represents a springboard to growth and considerable scale in the SMB marketplace.”
Digerati Technologies is a provider of cloud services, specializing in UCaaS (unified communications as a service) solutions for the small to medium-sized business market.
Post Road Group is a private investment firm that invests in corporate credit and real estate.
