York Telecom Raises $6 Million

York Telecom, an Eatontown, N.J.–based provider of visual communication services for large enterprise customers, has raised $6 million from Petra Capital Partners

PRESS RELEASE  

Petra Capital Partners, a private equity firm based in Nashville, Tennessee, today announced its $6.0 million investment in York Telecom. York marks Petra‘s second investment in 2009 and fourth investment from it newest fund, Petra Growth Fund II, L.P. Based in Eatontown, NJ, York is a leading provider of design, integration, and operational managed services for global enterprise visual communications systems. York‘s clients include many of the Fortune 100 as well as numerous federal government agencies and leading educational institutions. York used a portion of the proceeds to refinance certain indebtedness and intends to use the balance to fund the company’s anticipated growth. Petra Managing Partner Mike Blackburn will join York‘s Board of Directors.

 

“We’re excited about Petra Capital Partners’ deep experience working with technology companies and the opportunity to work with their talented team of professionals,” said Ron Gaboury, President and COO of York Telecom. “Petra has a fantastic track record of strengthening the global platforms of their portfolio companies and therefore is an ideal partner for York Telecom’s growth and expansion plans in the coming years.”

 

Mike Blackburn said, “The globalization of business is increasingly placing a premium on the ability of companies to communicate with their employees, customers and partners anytime, anywhere in a timely and efficient manner. Video communications is rapidly becoming the medium of choice for the world’s largest enterprises and York Telecom is well positioned to serve as the go to expert for the design, deployment and on-going management of these highly complex systems. We are pleased to have the opportunity to partner with founder and CEO York Wang, President Ron Gaboury and the rest of the team at York as they continue to build on their leadership position in the industry.”

 

About York Telecom

 

York Telecom is a leading provider of visual communication services and solutions for Global 5000 companies, as well as Government, Education and Medical segments. Founded in 1985, the company is headquartered in Eatontown, New Jersey. The company offers total managed conferencing services, consulting, integration and operational services, professional video production and postproduction for visual communication solutions such as Videoconferencing, Streaming Media, Video on Demand, Custom Media Studio and Room Design and Multimedia Network Management. York Telecom has worldwide branch offices, a multi-lingual VNOC and help desk and a worldwide integration, production and support force. For more information, visit York Telecom online at www.yorktel.com or email at info@yorktel.com.

 

About Petra Capital Partners

 

Petra Capital Partners, LLC is a private equity firm based in Nashville, Tennessee. The firm is actively investing its second SBIC fund, Petra Growth Fund II, which has $160 million of available capital to invest. Its previous funds under management total $130 million. Petra provides non-control subordinated debt and/or preferred stock to high growth companies for expansion, acquisition, buyout or recapitalization in partnership with the founding management team. Petra seeks to invest up to $10 million in growth companies that possess a minimum of $10 million in revenue and positive EBTIDA at the time of investment. The fund targets business, healthcare and information technology services companies. For more information, please visit Petra‘s website at www.petracapital.com or call (615) 313-5999.