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Arrival Communications Announces Successful Buyout of Bancboston Investment
Bakersfield, CA (April 16, 2005) – Arrival Communications
is pleased to announce the successful buyout of BancBoston’s
investment positions in Arrival. An investor group comprised of Alta
Communications and Housatonic Partners (both existing investors in
Arrival) Partners for Growth (an existing lender to the company)
and Arrival’s management team partnered to make the repurchase
possible. “The fact that we are in a position to do this is
a testament to Arrival’s strategy and execution along with
the confidence of our other investors and management team” states
Tony DiStefano CEO of Arrival.
Because of its strong balance sheet and its consistent profitability, the company was also able to participate in this repurchase. Arrival has been EBITDA positive since late 2002 and currently serves over 35,000 lines using primarily broadband access technologies.
About Arrival Communications
Arrival Communications is a competitive local exchange carrier (CLEC), providing voice and data services to underserved markets throughout California. The company offers a full suite of business products including, SDSL and T1 broadband Internet access and private networks in addition to local, centrex, long-distance, toll free, and voice mail services on a single bill. Founded in 1991 and managed by a group of individuals with extensive experience in the telecommunications industry, the privately held company based in Bakersfield, California utilizes a highly trained, direct sales force to proactively design cost-effective voice and data solutions for small to medium sized companies. By focusing only on business accounts and maintaining a local presence, Arrival Communications can deliver greater personalized service and more billing flexibility than the traditional telephone company. For more information, visit the Arrival website at www.arrival.com.
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