Atlanta-based Birch Communications, an IP-based telecom and managed services provider to SMBs, has scored a $77.5 million finance package which will serve to repay outstanding indebtedness.
The capital will also be used to fund future acquisitions, network build-out and for ‘general corporate purposes’ (new coffee machines ftw!).
Bank of America led the senior term, revolver, and leasing facility components of the financing package along with Silicon Valley Bank. A tranche of subordinated debt was provided by Kayne Anderson Mezzanine Partners.
Birch offers managed communications and information technology services to small- and medium-sized businesses in certain metropolitan areas within 38 states across the US, including local and long distance voice, broadband Internet access, mobile voice and data, e-mail, voicemail, and other solutions.