Access Media 3 Channels Cash Infusion into Upgrades, Market Growth
Triple-play media services provider will use funds to enhance internet speeds to customers in major markets.
- Chicago, IL (1888PressRelease) September 26, 2013 - Access Media 3 ("AM3"), a telecom services provider to multi-dwelling unit properties, has received a $6 million infusion of cash to fund internal systems and support infrastructure upgrades along with a previously disclosed asset purchase of a majority of the assets of MDU Communications (USA) Inc. ("MDUC"). The combined investment in AM3 by Meritage Funds, WP Global Partners, and Main Street Capital Corporation will sustain AM3's current business plan that delivers the fastest available Internet speed to customers, while continuing a dynamic growth trend. This aggressive trend landed it on the "Fast 50" list published by Crain's Chicago Business as number 5, along with being named to the Inc. 5000 list for the second straight year.
AM3, headquartered in Oak Brook, Illinois, provides high speed Internet, TV and voice services to MDU properties in 20 states. The new cash infusion will continue the expansion of AM3's high speed Internet capabilities, including delivery of 1 Gigabit bandwidth to properties and 100 Mbps speeds to residences within those properties in the Chicago, Dallas, Houston, Minneapolis and Southeast Florida areas, delivered via AM3's 10 Gigabit Ethernet networks. Additionally, AM3 will apply part of the funding to its acquisition of service subscribers from MDUC.
Scott Rediger, CEO of AM3, noted, "This funding opportunity enables us to continue our growth in our largest markets with service that will guarantee the best Internet experience for our customers. We are committed to delivering the fastest, most reliable Internet service in the industry to our clients, and our continued growth demonstrates the success of our business strategy."
For more information about Access Media 3, visit http://am3inc.com.
About Access Media 3
Access Media 3, headquartered in Oak Brook, Illinois, is one of the leading providers of comprehensive Internet, TV and voice services for multi-dwelling unit properties, including design, installation, maintenance and service management. Led by a team of industry veterans, Access Media 3 prides itself on offering flexible, tailor-made service packages through strong project management and property-specific solutions based upon wiring and technology needs. AM3 ranked no. 305 on the 2011 Inc. 500 list of fastest growing US companies, no. 1122 on the 2012 Inc. 5000, and was named to Crain's Chicago Business' 2013 "Fast 50," a list of Chicago's fastest growing companies. Access Media 3 is backed by equity investments from Meritage Funds, Petra Capital Partners, WP Global Partners, and Main Street Capital Corporation. For more information, visit http://am3inc.com.
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