Siena Lending Group LLC (“Siena”) announces the completion of a $3.0 million asset-based revolving credit facility for Datamation Systems, Inc. (“DSI”). The facility will be used to recapitalize the company and finance SNK Capital LLC and its affiliate, Wessex Capital Partners LLC’s acquisition of a controlling interest in DSI and to provide additional working capital to support the company’s growth.
Headquartered in South Hackensack, New Jersey, DSI provides security and mobile device management solutions to corporations and institutions. DSI is one of the largest and most experienced sources in the United States 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 their 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.
Scott Elliotto, Director of Siena, said, “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.”
About SNK Capital LLC and Wessex Capital LLC:
Christopher Kinslowis the founder of SNK Capital LLC and the managing member of Wessex Capital Partners LLC. Prior to establishing SNK Capital in 2008, Mr. Kinslow enjoyed a 20-year career at Deutsche Bank. He was one of the founders of Wessex Capital Partners LLC (“WCP”), an investment firm created in 2014. WCP invests in both debt and equity of private companies as a majority or minority shareholder. WCP currently holds equity interests in three companies, Rental Equipment Investment Corporation, Majestic Farm and Training Center and Nally Trading Group, LLC. Mr. Kinslow serves on each of these companies Board of Directors.