AloStar Capital Finance has provided a $12 million loan to Contec, a testing and repair services company for the cable television industry. Contec is a portfolio company of the Garrison Investment Group.
ATLANTA (June 21, 2018) – AloStar Capital Finance successfully agented and closed a $12 million committed credit facility to Contec, LLC (“Contec”a portfolio company of an affiliate of the Garrison Investment Group), a testing and repair services company servicing the cable television industry.
“Our dynamic service offerings cater to a highly responsive and lucrative audience, and AloStar’s commitment to our company is a testament to the substantial growth potential in our industry,” said Hari Pillai, CEO of Contec. “We gravitated to AloStar because of their ability to provide reliable capital with a partnership approach.”
Contec is one of the world’s leading providers of electronic repair and cosmetic refurbishment for cable and IP set-top boxes, satellite receivers, modems and other customer premises equipment. It also remanufactures and sells electronic parts for repairing set-top boxes and Wi-Fi internet modems.
“Contec already had a strong history of growth and success, and we were able to help them broaden their exposure to reach even more customers,” said Andy McGhee, President of AloStar Capital Finance. “AloStar is proud to partner with customers who are committed to evolving their business, making this commitment a smart and meaningful partnership opportunity.” To learn more about AloStar Capital Finance visit AloStarBank.com
About AloStar Capital Finance
AloStar Capital Finance provides capital and counsel to business leaders across America who are creating their own success stories. Through our Asset-Based and Lender Finance platforms, we create customized lending solutions for customers with capital requirements up to $60 million. To date, AloStar has closed more than 180 deals with commitments totaling more than $2.3 billion. At AloStar, you’ll have direct access to decision makers with deep capital industry experience who are responsive, flexible and eager to help you write your success story.
AloStar Capital Finance is a division of State Bank and Trust Company, Member FDIC. For more information, visit www.AloStarBank.com.