Ohio Pen - The Computer Works Secures Growth Capital to Expand Fiber Connectivity

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Circumference Group and Stephens Group to Accelerate TCW's Mission to Expand Broadband Access Across Arkansas

LITTLE ROCK, Ark. - OhioPen -- The Computer Works (TCW), a leading provider of fiber and fixed wireless internet services based in Arkansas, announced the completion of a significant growth capital investment led by The Stephens Group, LLC (Stephens Group), together with Circumference Group. This funding will further TCW's mission to bridge the digital divide by expanding fiber connectivity to underserved communities across Arkansas.

Brad Brannon, CEO of TCW, emphasized the transformative impact of the funding: "This growth capital gives us the financial flexibility to accelerate our market expansion and prepare for BEAD funding opportunities. We are committed to extending high-quality fiber internet services to the underserved areas in Arkansas and beyond."

Since Circumference Group's initial investment in July 2022, TCW has more than doubled its fiber footprint, significantly accelerating its growth trajectory by expanding into new markets, including Russellville. This latest investment milestone signifies a major leap in TCW's ambition to deliver reliable, high-speed fiber internet to more residents and businesses across the state.

"We are thrilled to partner with Stephens Group, whose investment philosophy aligns with our long-term vision of creating value for Arkansas communities," said Jeff Fox, Founder and CEO of Circumference Group. "TCW's talented team has continuously demonstrated their commitment to delivering exceptional broadband solutions, and this investment underscores our shared dedication to sustainable growth and customer value."

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The new partnership also highlights the Circumference Group's investment approach, which combines strategic operational expertise with flexible capital. Jeff Fox noted, "We see immense potential in TCW as a leader in providing long-term value to its customers. Our commitment to TCW represents our broader strategy of supporting strong businesses that deliver impactful results for the communities they serve."

Stephens Inc. acted as financial advisor to TCW during the transaction.

About The Computer Works (TCW)

Founded in 1989, The Computer Works (TCW) is a leading Internet Service Provider based in Conway, Arkansas. TCW delivers high-speed fiber and fixed wireless internet services to both residential and commercial customers across the state. Beyond internet connectivity, TCW offers a suite of services including Voice over IP (VoIP) phone solutions, online data backup, and comprehensive monitoring and alerting for computers, servers, networks, and applications. The company is dedicated to bridging the digital divide by providing reliable and affordable internet access to underserved communities. Since 2020, TCW has been awarded four Arkansas Rural Connect grants, facilitating the development of new fiber infrastructures and the enhancement of fixed wireless networks.

For more information, visit tcworks.com.

About Circumference Group

Founded in 2009 by Jeff Fox, Circumference Group is a Little Rock, Arkansas-based investment firm that applies deep operational insights to drive superior risk-adjusted returns for its capital partners. With a focus on private and public market investments, Circumference Group's Core Value Assessment (CVA) framework evaluates a company's growth potential and operational strengths, creating pathways for sustainable long-term success.

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For more information, visit circumferencegroup.com.

About Stephens Group

The Stephens Group, LLC is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens, Jr. and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital. With over $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them successfully achieve their strategic visions and build long-term value. Since 2006, Stephens Group has invested in over 50 companies, targeting investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, technology infrastructure, and vertical software.

For more information, visit stephensgroup.com.