Periculum Capital has arranged a 15-year term loan facility for Berry IT, Inc. and Berry Communication, LLC to support their growth in underground utility services and broadband internet expansion in Indiana.

Target Company Overview

Berry IT, Inc. ("Berry IT") and its sister company, Berry Communication, LLC ("BerryComm"), have successfully secured a new 15-year term loan facility facilitated by Periculum Capital Company, LLC. The loan was arranged in partnership with iBusiness Funding and backed by a USDA loan guarantee through the USDA’s Rural Development Program. This infusion of capital will empower Berry IT to expedite its growth plans, particularly in enhancing its underground services, while providing BerryComm with the resources to further expand its fiber optic broadband internet service network.

Founded in 1999 by James and Jamie Berry and based in Kokomo, Indiana, Berry IT has established itself as a leading utility service company, offering a variety of underground services including trenching and directional boring for residential and commercial clients. BerryComm, established in 2015, specializes in broadband services and is focused on rolling out fiber optic networks across the north-central region of Indiana and beyond. The company has shown significant growth by extending its fiber-first networks to various homes and businesses in the region.

Industry Overview

The rural utility services sector in Indiana is currently experiencing transformative growth as companies expand their capabilities and improve service offerings. The increasing demand for efficient underground utility servic