**Editor's Note: Please click here for a recap of the biggest channel-impacting mergers in Q3 2012.**
Three months after securing financing worth up to $140 million from Bank of America Merrill Lynch, Birch Communications said it has landed another $17 million, this time from Wells Fargo Bank.
Birch, an IP telephony and managed services provider to SMBs, has put some of the money borrowed thus far toward retiring debt and buying companies such as DayStar – the transaction that closed last week.
Birch executives did not specify how they intend to use the Wells Fargo funds; however, CFO Edward James did say in a press release that Birch now is "well-positioned to continue to execute our growth strategy."
Birch has purchased 16 small companies, mostly in the southeastern United States, since 2006. The provider sells through the channel.