Changes made for continued growth at local firm
A change in direction for a local firm also brought a change in name.
American Broadband Inc., located on old Connellsville Road, Lemont Furnace, is now United Network Services Inc. (UNSi), a leading provider of managed services for voice and data networks.
The company, which has offices in St. Louis and New Hope, Pa., employs about 55 people, more than 30 at its Uniontown area location.
“The reason for the name change is the company has changed directions from what used to be,” Francis D. John, new president and chief executive officer, said.
“We have been very successful in the realm of broadband connections and designing systems for backhaul wireless connections between cell towers and cable comapny fiber-optic lines,” he said.
“But we have several customers where we provide a full managed network service. Therein lies the name change from American Broadband to where we are focusing our efforts on managed network services, which is a complete bundle and a wide ranges of services we can provides for our customers in the areas of voice and data transmission,” John added.
“What’s critical to UNSi is we deal with customers who have multiple locations throughout the company.”
John, whose parents grew up in Uniontown and Lambert and whose cousin, Steve John, founded the business in 2001, was asked by the board of directors to take on the president and CEO position.
“This is a company that has grown over the past few years and weathered (the economic collapse) 2008 but the growth wasn’t what we would have liked to have seen because of the economy. So, the board decided we needed a new capital structure where we eliminated the majority of the debt and preferred stock and created a structure of all common stock to provide sound financial basis for company to grow,” he said.
“My strength is in executing recapitalization but I have a long history of growing companies through acquisitions. Part of what we are looking at is ways to grow UNSi,” he added.
John said he came into the company with some investors in 2005-2006 and became a member of the board of directors. “I have been on the board since then,” he said.
“As the company grows and matures, through a series of circumstances, the board asked me to come in and help complete the recapitalization and develop a plan to grow the company,” John said.
American Broadband built its property in Lemont Furnace in 2008. John said from 30 to 35 people work in the Lemont Furnace office.
“We have an engineering and sales operation in St. Louis and our principal marketing office, and where I spend some of my time, is in New Hope,” John said.
The company announced the changes Wednesday.
UNSi provides services for businesses and organizations to manage networking for all of their data.
The company said converting the high interest debt and preferred stock greatly reduces future cash interest payment requirements and vastly strengthens the company’s balance sheet. UNSi will now be able to invest its positive cash flow in expanding and growing the company.
John, 57, has comprehensive experience in leading companies through reorganization and restructure as well as achieving successful growth through acquisitions and expansion.
“We are pleased that UNSi is now well positioned for growth, organically and through acquisitions, as a result of the company’s successful recapitalization and new strategic vision,” said Theodore Baum, chairman of the board for UNSi and majority investor.
“The board is excited because Mr. John brings a wealth of experience in the areas of management, reorganization and acquisitions in addition to his ability to gain access to capital markets for growth and expansion.”
“Now that we have completed the recapitalization and strengthened the balance sheet, management can focus on the opportunities in the ever expanding voice and data network arena,” John said. “I want to thank our shareholders, debt holders and employees for their contribution to the reorganization and historical success. With our committed employees and focused management team we are optimistic about the bright future of our company,” John said.
John has made multiple appearances throughout his career on CNBC, CNN FN and Bloomberg, has been a keynote speaker at various worldwide industry conferences and has spoken on Capitol Hill numerous times. He graduated magna cum laude from Seton Hall University with a bachelor of science degree in accounting and graduated summa cum laude from Fairleigh Dickenson University with a master’s degree in business administration. UNSi focuses on mid-sized companies and has clients in government, retail, hospitality and health care.
Traditionally UNSi has provided nationwide connectivity services to public and private enterprises and governmental entities using relationships with more than 2,000 cable, telecom, wireless and satellite partners in North America. UNSi will continue to provide connectivity to its customers and future clients with a renewed focus on growing its core business, which is managed network services. UNSi manages voice and data networks 24/7 for more than 12,000 locations via its own network operations centers (NOCs) located in three different regions of the country.
For more information about UNSi, go online to www.unsi.net.