Birch Equity Partners sells assets of Tempo Telecom to Birch Communications
Marks the completion of first asset purchase and sale for Birch Equity Partners.
December 31, 2015
Atlanta, GA – December 31, 2015 – Birch Equity Partners announced today the closing of the sale of its first investment asset, Tempo Telecom LLC, a leading provider of prepaid and lifeline communications services to consumers throughout the United States. Tempo has served a growing segment of value-conscious consumers seeking high-quality and flexibility when purchasing communications services.
Tempo began offering service in 1996 (originally as Now Communications), and over the past twenty-plus years learned how to tailor communications services to meet individual consumer lifestyles. Tempo provides customers with communications services choices which are simple and affordable. The Tempo brand stands for value and simplicity, but also offers the flexibility necessary to change as your lifestyle changes.
Through Birch Equity Partner’s tenure with Tempo, management worked to increase Lifeline services and as a result of strong compliance standards and was able to gain approval in over twenty states. Additionally, in March of 2015 Tempo Telecom LLC announced the closing of the asset acquisition of prepaid mobile carrier, Globalinx Mobi.
“At the time, our decision to invest in Tempo was an easy one,” said Vincent M. Oddo, Managing Partner. “We observed the historical growth and the excitement in the marketplace for prepaid and Lifeline services and knew this was an expansion-stage business that had great potential. Since our initial investment, we have seen growth in the marketplace, and we were able to capitalize on organic growth through expansion of our Lifeline product, and completion of acquisitions within the Tempo brand.”
“Birch Equity Partners will continue to leverage not only capital but over twenty years of experience,” Oddo states. “We will continue to seek growth-stage businesses like Tempo, doing so will allow the company to expand over the next several years, and beyond.”
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About Birch Equity Partners
Birch Equity Partners is an Atlanta, Ga.-based private equity firm focused broadly on investing in high-growth, expansion-stage, privately held companies. Birch Equity has pioneered a management-based approach to private equity investing, partnering with management teams and adding value far beyond the infusion of capital to help entrepreneurs build great businesses. For additional information about Birch Equity Partners please visit birchequitypartners.com.