Old Market Capital (OMCC) is a holding company that owns a 60.9% controlling stake in Amplex Electric, a broadband ISP serving rural and semi-rural communities in Northwest and North Central Ohio. Amplex serves roughly 13,000 broadband customers — residential and commercial — using two network technologies: fiber-to-the-home (FTTH), with over 12,000 fiber passings and approximately 4,400 fiber subscribers, and fixed wireless in areas where fiber deployment is too costly. Amplex sells broadband internet, VoIP, and video services directly to customers, with revenue driven by recurring monthly subscriptions. As Amplex expands its fiber network, it converts existing wireless subscribers to fiber and adds customers in previously unserved areas. The business is capital-intensive upfront but carries low marginal cost per additional subscriber once the network is built, and rural markets tend to have low churn given limited alternatives. Amplex is funding part of its expansion through a $21M USDA loan under the federal Reconnect program, which subsidizes broadband deployment in underserved areas. Beyond Amplex, OMCC operates as an acquisitive holding company seeking controlling interests in businesses with strong returns on tangible equity at reasonable valuations. OMCC was formerly Nicholas Financial, a used auto loan originator, but exited that business in 2024 and pivoted to broadband with the Amplex acquisition, rebranding and relocating headquarters to Omaha, Nebraska in the process.
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