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AloStar Capital Finance Commits $12MM to Contec

June 22, 2018, 07:09 AM
Filed Under: Technology

AloStar Capital Finance successfully agented and closed a $12 million committed credit facility to Contec, LLC, 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.”

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