Petroleum Africa
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Tuesday, June 17, 2014
Release
LAFAYETTE, La. (June 16, 2014) – Datacom, LLC (“Datacom”) has secured a capital investment in the Company of $19.2 million led by Main Street Capital Corporation.
The initial investment proceeds were used to complete a minority recapitalization, refinance existing debt and provide working capital for growth in Datacom.
In addition to the initial investment, Datacom secured an additional tranche of growth capital totaling $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.
CEO and founder, John Poindexter, and COO Walt Messa, said, “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.”
Datacom was assisted in its selection of a capital partner and counseled throughout the transaction by Bruce Bown of Dancing Bear Resources, LLC.
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