Photo: Masahiko-Ohkubo-available under a Creative Commons Attribution-Noncommercial license.

[Via Satellite 04-25-2016] Satellite Solutions Worldwide Group (SSW) has agreed to a $2.9 million unsecured loan note with Business Growth Fund (BGF). The loan note carries a fixed coupon of 10 percent, and is repayable in full after 12 months.

SSW specializes in rural and last-mile satellite broadband, and has made several acquisitions across Europe. The company plans to use the new funds to strengthen its balance sheet and continue its organic and acquisitive growth strategy as it seeks to continue the consolidation of the satellite broadband industry across the continent.

“These funds will allow the completion of two smaller French acquisitions in the coming weeks, further consolidating our position as the second largest provider in France. We continue to evaluate a number of significant acquisition opportunities and we expect BGF to remain supportive of our growth strategy,” said SSW CEO Andrew Walwyn.