News
NewSpring Capital Announces Investment in York Telecom Corporation
RADNOR, PA, April 21, 2008 – NewSpring Capital, of Radnor, PA and Short Hills, NJ, announced today that NewSpring Mezzanine, the dedicated mezzanine fund of the NewSpring Capital fund family, has completed a $5 million investment in York Telecom Corporation (“York Telecom”). Headquartered in Eatontown, NJ, York Telecom is a leading provider of video-conferencing design, configuration and managed services offerings for large commercial and government clients.
Andrew Panzo, General Partner of NewSpring Capital, stated, “York Telecom is on the cutting edge of video-conferencing technology and is setting the standard for its managed services offerings and industry best practices. York’s success is driven by their expertise in configuration and delivery, and their history in the video-conferencing industry.” York Telecom was founded in 1985 by York Telecom’s CEO, Dr. York Wang, who was an early pioneer in the video-conferencing industry.
York Telecom President, Ron Gaboury said, "York Telecom has experienced exponential growth and expansion over the past few years. We continue to be well positioned to offer our Total Managed Conference Services to some of the largest enterprise companies in the world. Our global capacity to deploy resources gives us a clear competitive advantage in the marketplace. York Telecom's enhanced tool set, along with its strong global footprint, allows the company to deliver services at levels unsurpassed in the industry.” York Telecom is sought after by companies around the world to help manage their video-conference network. “In part, this is due to the excellence and background of the employees,” says Gaboury. “Our heritage comes from the experience of our team. Our team understands the necessity of making the applications and networks work.”
The funding from NewSpring Capital will allow York Telecom to continue to further accelerate its efforts in technology capabilities expansion. “As technologies trend and merge between conferencing, media services, integration and unified collaborative services, York Telecom will continue to be the choice for industry leadership in complete managed services support for large enterprise clients,” says Gaboury. “We are excited to have NewSpring Capital in this financing as both an investor and a partner to support our execution strategy.” Since its inception, York Telecom has designed and built video facilities and currently maintains more than 7,000 video facilities worldwide.
“We are excited to be a long-term partner with York Telecom and look forward to working with York Wang and Ron Gaboury towards a shared vision,” says Panzo.
As part of the financing, Andrew Panzo of NewSpring Capital
will join York Telecom’s Board of Directors.
About York Telecom Corp.
York Telecom is a leading provider of visual communication services and solutions for educational institutions, the federal government, state and local governments, healthcare facilities, and Fortune 1000 companies. The company offers total managed conferencing services, professional video production, design consulting, systems integration and maintenance services for applications including video-conferencing, presentation systems, streaming media, telemedicine, and distance training. Founded in 1985, York Telecom is headquartered in Eatontown, New Jersey. For more information, visit www.yorktel.com.
