Calgary-based telecommunications company WiMacTel has secured an undisclosed investment from subordinated debt and mezzanine financing provider First West Capital. WiMacTel, which supplies operator services, directory assistance, long distance, wireless/VoIP dial tone and payphone services to a range of clients in Canada and the United States, will use the funding to accelerate its business goals. Vancouver-based First West Capital is the $100 million investment arm of First West Credit Union.
CALGARY, Alberta, Dec. 2, 2013
WiMacTel, an independent nationwide telecommunications company serving Canada and USA, has experienced phenomenal growth over the last 3 years. With the completion of their most recent operations funded acquisition of FSH Communications, WiMacTel has selected First West Capital to accelerate their business goals.
WiMacTel began providing public communications services to the Canadian and USA telecom giants. Three years ago they made the bold decision to build out a modern switching and network infrastructure and evolve the company into a full telecommunications company providing operator services, directory assistance, long distance, wireless/VoIP dial tone and payphone services. Today WiMacTel provides these new services to Local Exchange Carriers, Airports, Government, Inmate Facilities, Shopping Malls, Convenience Stores, Gas Stations, Hotels, Hospitals, Universities/Colleges and Payphone Operators nationwide across the USA and Canada.
Following rapid revenue growth and several successful acquisitions in the last year WiMacTel is targeting additional acquisitions to grow their existing revenue base and to add complementary products and services to their strong vertical channels.
James MacKenzie, CEO of WiMacTel commented that, “We have grown dramatically over the last several years and we are excited to continue and in fact accelerate our growth. To accomplish this we needed a funding partner that will react quickly, adapt flexible solutions to each opportunity and demonstrate an understanding of our business. First West Capital fits well with WiMacTel and demonstrated their ability to meet our requirements for a funding partner. We are excited about our plan forward with First West’s support.”
Robert Napoli, Vice President of First West Capital, said “We are excited to be partnering with WiMacTel as they expand their offering to telecommunications companies, from payphone services to residential services. We expect further consolidation in the US payphone market and WiMacTel is well positioned to take advantage of these opportunities.”
WiMacTel is a Telecommunications Company providing operator services, directory assistance, long distance, wireless/VoIP dial tone and payphone services to Local Exchange Carriers, Inmate Facilities, Airports, Government, Convenience Stores, Gas Stations, Hotels, Hospitals, Universities/Colleges and Payphone Operators nationwide in the USA and Canada. For more information visit http://www.wimactel.com.
First West Capital is First West Credit Union’s newest division, and has a $100 million fund established to provide subordinated debt and mezzanine financing to small- and medium-sized businesses. Led by Kristi Miller and Robert Napoli, the First West Capital team has more than 25 years of commercial lending experience including 18 years in subordinated debt financing.