Single Digits installs and maintains guest/user internet access, such as those you use when staying at a hotel. By offering a combination of advanced wi-fi technology, first-in-class customized back-end software, innovative engineering solutions, along with unmatched customer service, the company was growing fast and needed capital to hire staff and obtain inventory.
Despite being profitable, growing, and having received bank loans in the past, the company simply didn’t have the collateral to support additional loans from traditional lenders.
Why VFG made this investment
Single Digits had excellent cash flow. Furthermore, it had an experienced management team with unparalleled knowledge of their market. As evidenced by the addition of strong new customers and superior operational performance, they were clearly a team worth backing.
From VFG’s investment in 2011, to 2014, Single Digits has tripled sales, and has more than 120 employees. The company acquired a competitor, and received significant funding from a private equity firm that is taking growth to even greater heights.
We’ve had financial blips along the way, and it’s always been: ‘Let’s work on these problems together, do what’s best for the business, and focus on growing profits and jobs for the long term.’