Montgomery's AIM Group Invests $6.4 Million in Fiber Optic Firm
26 Apr 2017
Auburn's AIM Group has completed its largest investment to date, pumping $6.4 million as part of a group of investors into an Atlanta-based fiber optic company.
AIM Group, along with Fidelis Capital and Bonaventure Capital, completed an $8.9 million equity purchase of Deep Fiber Solutions.
Jim Corman, Managing Partner of AIM Group, said the company was "immediately blown away by the technology."
"Having been involved in constructing some of the early fiber optic networks in the 1980's, I fully appreciated the elegant solution that the Deep Fiber team created to enable old coaxial networks to be upgraded to fiber optic networks without all of the hassles of trenching and boring," he said.
A news release stated the money will fund Deep Fiber Solutions to continue work in the cable industry. The cable engineering and construction company has patented technology that ejects the core of a coaxial cable and installs a fiber optic cable at a "substantially" lower cost and in a shorter time.
"This transaction will provide Deep Fiber Solutions with the expansion capital necessary to address the market demand for our unique core ejection/fiber optic installation service," said Mark Davis, Deep Fiber Solutions CEO.
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