Daily News: January 10, 2013

Keltic Financial Funds $6MM Revolver to IGXGLOBAL


Keltic Financial Services announced the recent funding of a $6.0 million senior secured revolving line of credit to IGXGLOBAL, a subsidiary formed by iGambit to purchase the business of IGXGlobal and IGXGlobal UK.

“With the shortened timeframes that we required to get a deal done, the Keltic organization rose up and met the challenge. They worked alongside us as a true partner and I am pleased to have them as the catalyst for our long term growth plans”, said Thomas J. Duffy, CEO and president of IGXGLOBAL.

“It took a total of ten working days from start to finish, during the Christmas holidays to complete the funding for a company with assets in two countries. In my twenty-five years on Wall Street I have never seen a lender provide the speed, coordination, and professionalism that Keltic provided to our client,” said Edward Cabrera, head of investment banking,
Wellington Shields.

IGXGlobal is a provider of information technology services and solutions designed to improve the performance, infrastructure and security of their clients’ operations. The company, which was founded in the U.S. in 1998 and expanded to the UK in 2006, works with service providers, enterprises and small businesses.

iGambit is a diversified holding company whose objective is the acquisition and development of small to medium sized businesses engaged in licensing and/or services with recurring revenue models.