Everstream has announced closing $342.5 million in debt financing that it will use to accelerate previously disclosed growth and expansion plans establishing its service in new markets, which means laying lots of new fiber.
The Cleveland-based company, a business-only fiber internet service provider, said the financing will enable its goal of branching into five new networks during 2020. One of those new markets, Chicago, came online in February. Other new markets included in the expansion plan include Dayton; Fort Wayne, Ind.; Louisville, KY; and St. Louis.
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Story excerpt provided by Crain’s Cleveland Business.,
Written by Jeremy Nobile.
Originally published April 6, 2020.