CCNB In The News – Greenville
Greenville, South Carolina – February 6, 2020. Broadband Infrastructure, Inc., (BBI), the parent company for Carolina Underground Solutions, LLC and Absolute Technology, LLC, located at 24 Concourse Way, Greer, SC 29650, is being recapitalized with a $3.5 million deal from CCNB – Coastal Carolina National Bank, located in downtown Greenville on 416 E. North Street.
One of the sub-companies of Broadband Infrastructure (BbI), Carolina Underground, was just recognized this past July by SC BIZ NEWS as one the fastest growing companies in South Carolina. This new accommodation by Coastal Carolina goes far in continuing that growth trend. “Twenty in twenty is our motto,” said Brad Cunningham, CEO of Bbl. “We are targeting twenty million dollars of top-line for the year 2020, and that will be about a 90% growth rate.” BBI experienced a 100% growth in 2019.
BBI is the brainchild of Cunningham who has been building a company that can respond to the massive demand for broadband infrastructure, principally by telecom related companies, and the wave of 5G technology about to wash over the country. This includes the Southeast, which is the current footprint of BbI. “The genie is out of the bottle on bandwidth demand, streaming, and 5G. The future of telecom, industrial and automotive autonomy, and public expectations with their streaming devices, will ride on the fiber optics and specific indoor and outdoor infrastructure that we provide. The timing is excellent, and we’re appreciative of the support CCNB provides,” said Cunningham.
“It is exciting to be part of this robust, fast-growing regional company. It is exactly the kind of market space that we value as we invest in our own state,” said Clinton McKinney, Vice President, Greenville City Executive for CCNB- Coastal Carolina National Bank. “Our CCNB team uses its local market know-how, and ‘We Can Do That!’ spirit to support our growing community and we’re thrilled to be working with such a dynamic company,” said McKinney.
Cunningham added, “We have a great team here, great customers, very strong processes to manage our growth, and now, thanks to Coastal Carolina and their confidence in us, we have the financial fuel to continue our rapid growth and have a break-out 2020, we are very excited as we look forward to this partnership.”
About Broadband Infrastructure Inc. (BBI):
BBI provides turnkey telecommunications infrastructure services through its family of companies, Carolina Underground Solutions (CUS) and Absolute Technologies (AT). Both founded in 2015, CUS is a provider of directional drilling, boring, trenching for the installation of fiber optic telecommunications cabling and conduit, often called Outside Plant or OSP. AT is a diverse structured cabling company providing structured cabling, security solutions, and data architecture solutions, referred to as Inside Plant or ISP. BBI provides services to major telecoms, industrial, and government customers. For additional information visit the company’s website, www.broadbandinfrastructure.com
About Coastal Carolina National Bank. Coastal Carolina National Bank is a locally operated financial institution focused on providing personalized service and offers a full range of banking services designed to meet the specific needs of individuals and small and medium-sized businesses. Headquartered in Myrtle Beach, SC, the Bank also has branches in Garden City, North Myrtle Beach, Conway, Aiken, Columbia and Greenville, and a Loan Production Office in Spartanburg, South Carolina. Through the substantial experience of our local management and Board of Directors, Coastal Carolina Bancshares, Inc. seeks to enhance value for our shareholders, build lasting customer relationships, benefit our communities and give our employees a meaningful career opportunity.