Datacom secures US$ 19.2 million capital investment

Datacom has secured a capital investment in the company of US$ 19.2 million, led by Main Street Capital Corporation.

The initial investment proceeds were used to complete a minority recapitalisation, refinance existing debt and provide working capital for growth in Datacom.

Growth capital

In addition to the initial investment, Datacom secured an additional tranche of growth capital totalling US$ 13 million through the Main Street-led facility to expand its current business lines and make acquisitions.

Datacom’s management team retained majority equity ownership in Datacom. Its leadership consists of veteran energy telecommunications and engineering managers who have a combined 175 years of experience in the field.

Comments

CEO John Poindexter and COO Walt Messa, commented: “We are happy to welcome Main Street as a capital partner in Datacom, and we are eager to pursue the significant growth opportunities that are available to the Company with this large capital pool and major financial partner like Main Street. We believe this will be a period of exciting and exponential growth for Datacom and its employees.”

About Datacom

Datacom is a leading provider of telecommunications, security, surveillance, engineering and data transfer services and products for companies involved in operations in remote and harsh environments. The company serves the onshore and offshore energy industry from its headquarters in Louisiana, as well as offices throughout Texas.

Adapted from press release by Katie Woodward

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/17062014/energy_services_provider_datacom_secures_capital_investment_849/