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Lux Speed, an Anacostia Ventures Investment, Secures a $50 Million Corporate Credit Facility with CSC Leasing
June 7, 2021
Source: PR Newswire
Facility is designed to power Lux Speed growth plans and accelerate customer roll-outs
Lux Speed, a Florida-based fiber and managed Wi-Fi provider announces a credit line of fifty million dollars with CSC Leasing. Anacostia Ventures lead the discussions and ultimately secured the line for Lux Speed. "CSC is a premier capital partner and a perfect fit for Lux Speed's advanced offering" said Steve Canton, Senior Partner at Anacostia Ventures.
"The pandemic has shed light on the importance of amenities in the multi-family, single-family, assisted living, and student housing sectors", said Michael Bertamini, Lux Speed acting CEO. "The largest barrier to advanced technology is traditionally the capital necessary to upgrade infrastructure. This credit facility will permit Lux Speed to continue expansion without capital restraints".
"We have a fifteen-year relationship with the leadership team at Lux Speed and Anacostia Ventures" said John Corey, CEO at CSC Leasing. "They've demonstrated a track record of being honest, thought leaders, who are results oriented. We are very excited about this partnership and the long term benefits for both our respective companies."
Lux Speed continues its expansion nationally with state-of-the-art technology, first class customer results, and a passion to equal the broadband playing field coast-to-coast.
About Lux Speed
Lux Speed was founded on the basic principle that everyone deserves reliable, high speed internet, without exhausting excuses. Lux Speed is the gold standard for fiber deployments, managed WIFI, and gigabit internet services for the multi-family, single-family, assisted living, and student housing sectors. With over 5,500 national providers, Lux Speed is becoming the premier alternative to traditional cable providers.
About Anacostia Ventures
Anacostia Ventures is a private investment firm located in South Florida. Anacostia Ventures invests in companies that hold promise, with the right tools, support, and cooperative effort will excel. Anacostia Ventures mission is to bring opportunities and success to their portfolio companies. Leaders at Anacostia Ventures are trail blazers that pave the way for employees, customers, and shareholders success. Further information is available at www.anacostiavc.com.
About CSC Leasing
CSC was founded as a family business. CSC believes (added s) in upholding relationships throughout the highs and lows of operating cycles and growing a business. Today, CSC supports inventive, well-run companies that are growing—even when experiencing challenges or setbacks. Having started selling door to door, CSC values (added s) face-to-face connections with clients. As a result, CSC has strong financial partner relationships. For CSC, it's about building—and preserving—long-term, mutually beneficial relationships.
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