Eagle Eye News On Demand

Columbia-based Socket has recapitalized their company and brought in new majority owners to raise money. Socket president Carson Coffman emphasizes that the original shareholders are still owners and are active in the company. The new majority owners are Charlotte-based Pamlico Capital and Oak Hill Capital. Mr. Coffman and Socket Fiber executive chairman Jim Gleason joined host Fred Parry Saturday in-studio for the hour on 939 the Eagle’s “CEO Roundtable.” Mr. Coffman tells listeners that Socket needed another $250-million to grow the way they wanted to. He says Socket has added staff, with the new arrangement. “I think we’ve added 75 people already in the first year and we’ll be up over 300 by the end of this year,” he tells listeners. He says the infusion of cash has allowed Socket to build in Missouri towns like Webb City, Odessa and Oak Grove: