Siena Lending Group completed a $3 million asset-based revolving credit facility for Datamation Systems.
The facility will be used to recapitalize the company and finance SNK Capital and its affiliate, Wessex Capital Partners’s acquisition of a controlling interest in DSI and to provide additional working capital to support the company’s growth.
Headquartered in South Hackensack, NJ, DSI provides security and mobile device management solutions to corporations and institutions. DSI is one of the largest and most experienced sources in the U.S. for equipment used to protect, charge, and manage mobile devices including mobile phones, iPads, tablets, Chromebooks, laptops, and bar code scanning devices.
DSI’s products include USB docking stations, charging carts and cabinets, secure mobile device docking stations, and anti-theft devices which are configured to meet the specific needs of each customer. The company provides solutions to the education, healthcare, retail, hospitality, and transportation markets, among others, and plans to pursue new markets such as law enforcement, public safety, and emergency management. Any market that deploys a significant number of hand-held devices is a prospect for DSI’s solutions.
“We are very excited to partner with Christopher Kinslow and the management team at DSI and help them achieve the next level of growth. DSI is a market leader with innovative products and is well positioned to capture the growth in the need to manage mobile devices,” said Siena Director Scott Elliotto.
