Tech Valley Snags New Funding

Tech Valley Communications (TVC) has 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,” said Kevin O’Connor, CEO and co-founder of Tech Valley Communications.

“Riverside Partners and GE Capital have a long standing and close working relationship, and we are pleased to have them and Webster Bank supporting us in our Tech Valley investment,” said Steven Kaplan, general partner at Riverside Partners. “The new credit facility was used to refinance our existing indebtedness, fund the TelJet acquisition and create a solid foundation for Tech Valley’s continued growth.”

Tech Valley recently completed the purchase of Vermont-based TelJet Longhaul, including TelJet’s Vermont and New Hampshire fiber networks and its recently built colocation facility

As a result of this transaction, TVC has added density to its fiber networks, which operate across in Upstate New York, Northern New England and into Canada, totaling more than 190,000 fiber miles and nearly 1,300 lit buildings.

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