Rural Broadband Gets New $55 Million Infusion: Private Investment to Drive Continued Growth at Barrett Xplore
Woodstock, NB, – Barrett Xplore Inc., provider of Xplornet Internet services, is pleased to announce that it has secured a series of private investment arrangements that will allow it to move aggressively to build Canada’s first national fourth-generation broadband network. Barrett will create a robust 4G broadband network covering all of rural Canada by combining a new 4G WiMAX network of roughly 1200 towers with a new satellite network using two new 4G satellites. Totaling $55 million, the new investment consists of $30 million from existing investors and $25 million in new equity investment. Among the new investors are Catalyst Investors (www.catalystinvestors.com) and Werklund Capital Corporation (www.werklundcapital.com).
“The range and size of these investments are a clear endorsement of the Barrett Xplore Inc. mission, business model and vision of making Canada an international rural broadband leader” said John Maduri, CEO of Barrett Xplore Inc. “This investment allows us to finish the job we started: to bring affordable, robust broadband to every rural Canadian.”
The deployment of the 4G terrestrial-wireless deployment began this month in Quebec. Two 4th generation satellites will be launched; one in 2011 and the second in 2012.
About Barrett Xplore Inc
Headquartered in Woodstock, New Brunswick, Barrett Xplore Inc. operates Xplornet Internet Services, Canada’s largest rural broadband provider, with customers and dealers in every province and territory. Barrett Xplore aims to bridge the urban/rural digital divide by ensuring that every Canadian, regardless of where they live, has access to broadband, thereby enabling them to compete effectively in the global economy and gain access to essential government and educational services. For additional information, please visit www.xplornet.com.
About Werklund Capital Corporation
Werklund Capital (www.werklundcapital.com) is one of Canada’s largest family office investment companies. Based in Calgary, Alberta Werklund Capital was founded by Mr. David P. Werklund, a successful and respected Calgary businessman who built CCS Inc. into one of Canada’s largest environmental services companies. WC’s business philosophy is to achieve a reasonable return on its capital by seeking investment opportunities in which Werklund Capital can make a significant & positive contribution.
About Catalyst Investors
Catalyst Investors is a growth private equity firm founded in 2000. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue and margin growth. The firm works in true partnership with talented management teams to build long-term value and is committed to investor transparency. Past and present Catalyst portfolio companies include Advantage Business Media, Aloha Partners, Aspire Media, Catalyst Repository Systems, Denali Spectrum, InSite Wireless Group, Latisys, MessageLabs, MINDBODY, Nine Systems, TCP Communications and Telemundo. For more information, visit http://www.catalystinvestors.com.