Georgia-based Birch Equity Partners backs Tempo Telecom
Tempo Telecom secured a private equity investment from Atlanta, Georgia-based Birch Equity Partners, a statement about the funding said. Terms about the deal were not disclosed.
Tempo Telecom provides customers all over the US with prepaid and Lifeline voice and data communications services. It specializes in giving no-contract and no-credit check services that are straightforward and easy on the pocket. Value-conscious individuals who demand great communications services and flexibility will align themselves with the Tempo brand, the statement said.
Birch Equity Partners Managing Partner Vincent M. Oddo said in the statement, "Birch Equity Partners decision to invest in Tempo was an easy one. 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."
Tempo was originally called Now Communications when it opened for business in 1996. It has learned how to customize the communications services it offers to clients so that it is compatible with their personal lifestyles. Customers can select from simple and pocket-friendly choices that also provide the needed flexibility to change as their way of life changes, the statement said.
Oddo added that Tempo will be receiving more than just funding. He said, "In addition to growth capital, Birch Equity will also be providing management expertise and several back-office and call center services to Tempo. We believe this multi-faceted approach to supporting a growth-stage business like Tempo will allow the company to expand exponentially over the next several years, and beyond."
Birch Equity Partners looks for investment opportunities in privately-held firms that are in the expansion stage and exhibit high-growth. It has introduced a "management-based approach" to its investments, collaborating with management teams and giving value that goes beyond mere capital infusion to help entrepreneurs grow their companies, the statement said.