The funds for Datacom come from New York Stock Exchange-listed Main Street Capital Corporation.
The initial investment proceeds have been used to complete a minority recapitalisation, refinance existing debt and provide working capital for Datacom’s growth activities.
Besides the initial investment, Datacom also secured an additional tranche of growth capital totalling $US13 million through the Main Street-led facility to expand its business lines and make acquisitions.
Datacom’s management team have retained majority equity ownership of the company.
CEO and founder John Poindexter and chief operating officer Walt Messa said they believed this would be a “period of exciting and exponential growth for Datacom and its employees”
Datacom was helped in its selection of a capital partner and counselled through the transaction by Bruce Bown of Dancing Bear Resources.
