Periculum Places 15-Year Term Loan Facility for Berry IT, Inc. and its Sister Company, Berry Communication, LLC

Periculum Capital Company, LLC is pleased to announce the placement of a new 15-year term loan facility for Berry IT , Inc. (“Berry It”) and its sister company, Berry Communication, LLC (“BerryComm”). The loan was processed by iBusiness Funding in conjunction with a USDA loan guarantee issued through the USDA’s Rural Development Program. The funds provide longer-term capital and additional liquidity allowing Berry It to accelerate its growth as they expand their underground services and allowing BerryComm to continue its rollout of its fiber optic broadband internet service network.

Located in Kokomo, Indiana, Berry It was founded in 1999 by James and Jamie Berry. Berry It is a premier utility service company specializing in various underground services such as trenching and directional boring for both residential and commercial needs.

BerryComm was founded in 2015 by James and Jamie and provides broadband service throughout the north-central region of Indiana and beyond. The company has been rapidly expanding their fiber-first networks to homes and businesses throughout the region.

Periculum ran a broad process across various capital providers to obtain the optimal structure. As a company located in a rural area of the State of Indiana, they qualified for the USDA guarantee allowing the underlying lender to offer more favorable terms and a longer tenor. Periculum advised the Company through the entire process starting with obtaining and vetting proposals, as well as assisting in the closing negotiations and documentation. Taft Stettinius & Hollister, LLP was the Company’s legal advisor.

About Periculum Capital Company, LLC
Periculum is a leading investment and merchant banking firm serving the corporate finance needs of middle market companies. The firm was founded in 1998 to provide sophisticated financial advisory and transaction services. Periculum is committed to achieving superior outcomes for its clients by delivering customized investment banking services that maximize value while still meeting clients’ individual goals and objectives. The firm’s primary services include M&A, capital markets, and restructuring advisory, as well as specialized merchant banking services.