TelePacific Communications, a Los Angeles, CA-based Integrated Communications Provider (ICP) serving business customers in the western United States, has received a $125m equity investment from Investcorp.
This transaction brings the total amount the company has secured in financing in the last 12 months to more than $200m.
TelePacific intends to use the proceeds from the investment to expannd its network infrastructure and service area to additional U.S. metropolitan markets over the next 12 months as well as to continue to extend its customer-support organization, and to accelerate the development of proprietary web-enabled solutions.
Led by Chairman and CEO David Glickman, the company provides converged services, including local and long distance voice, data, Internet access, web hosting and web design to small- and medium-sized businesses and select corporate clients within the California and Nevada marketplace. TelePacific recently reached an agreement to acquire Tel West Network Services Corporation, a provider of high speed internet and other ancillary telecommunications services to approximately 3,400 small and medium sized businesses, enterprise customers and government accounts across the state of Texas.
Founded in 1982, Investcorp is a global investment group with offices in New York, London and Bahrain.