The Computer Works Secures Growth Capital to Expand Fiber Connectivity Across Arkansas
After examining the websites, it’s clear that the relevant company is The Computer Works based in Conway, Arkansas, which specializes in fiber and fixed wireless internet services. The other company, Computer Works in Monroe, CT, focuses on technical services and computer repair, which is unrelated to the query.
The relevant news article covering the funding type is from PR Newswire, dated December 11, 2024. Here is a rewritten version of the article:
The Computer Works, a leading provider of fiber and fixed wireless internet services in Arkansas, has secured significant growth capital to further its mission of expanding broadband access across the state. This investment, led by The Stephens Group, LLC, in partnership with Circumference Group, marks a major milestone in The Computer Works’ ambition to deliver reliable, high-speed fiber internet to more residents and businesses.
Founded in 1989, The Computer Works has been dedicated to bridging the digital divide by providing affordable and high-quality internet access to underserved communities. Since 2020, the company has been awarded four Arkansas Rural Connect grants, which have facilitated the development of new fiber infrastructures and the enhancement of fixed wireless networks.
The new funding will provide The Computer Works with the financial flexibility to accelerate its market expansion and prepare for future funding opportunities, such as the Broadband Equity, Access, and Deployment (BEAD) program. Brad Brannon, CEO of The Computer Works, emphasized the transformative impact of this funding, stating that it will enable the company to extend its high-quality fiber internet services to more underserved areas in Arkansas and beyond.
Circumference Group, which initially invested in The Computer Works in July 2022, has played a crucial role in supporting the company’s growth. Jeff Fox, Founder and CEO of Circumference Group, noted that The Computer Works’ talented team has consistently demonstrated their commitment to delivering exceptional broadband solutions. This investment underscores the shared dedication to sustainable growth and customer value.
The partnership with The Stephens Group, a private investment firm with over $2 billion of private equity assets under management, highlights the strategic alignment between the two companies. The Stephens Group’s investment philosophy focuses on creating long-term value for its capital partners, which aligns with Circumference Group’s approach of combining strategic operational expertise with flexible capital.
Stephens Inc. acted as financial advisor to The Computer Works during the transaction. The investment signifies a major leap in The Computer Works’ ambition to deliver reliable, high-speed fiber internet to more residents and businesses across Arkansas, furthering its mission to bridge the digital divide and provide critical connectivity to urban and rural customers.
The Computer Works offers a suite of services beyond internet connectivity, including Voice over IP (VoIP) phone solutions, online data backup, and comprehensive monitoring and alerting for computers, servers, networks, and applications. The company’s commitment to delivering high-quality services and its focus on expanding broadband access to underserved communities make it a leader in providing long-term value to its customers and the communities it serves.