AloStar Business Credit has provided a $12 million secured revolving credit facility to Sycamore Networks Solutions, a provider of intelligent optical networking and multiservice access solutions. The secured revolving credit facility provides the company access to working capital and additional liquidity to support growth of the company’s operations.
Sycamore Networks Solutions, Inc. launched as a privately-held company in early 2013, following Marlin Equity Partners’ acquisition of Sycamore Networks, Inc.’s bandwidth management product and service business. Sycamore is recognized for leadership in innovative networking solutions that combine advanced technology with demonstrated resiliency, efficiency, and performance. The company’s comprehensive product offerings serve applications across service providers’ communications infrastructure, from mobile backhaul and multiservice access to metro aggregation and core optical switching.
“We look forward to providing Sycamore access to capital and support as it continues to grow its operations and advance its market leadership position,” said Andy McGhee, president of AloStar Business Credit.
Current and prospective customers of Sycamore include domestic and international wire line and wireless network service providers, utility companies, large enterprises, multiple systems operators and government entities. Sycamore's carrier-class networking solutions form the foundation for many of the world's leading communications networks.
"We view AloStar as an exceptional partner that understands our desire to grow our business. We are excited to continue to enhance our network solutions portfolio and establish new innovations in technology and excellence in customer service,” said John Scully, president and CEO of Sycamore Networks Solutions, Inc.
AloStar Business Credit provides asset-based lending products nationwide to businesses ranging between $20 million and $300 million in revenue and with financing needs ranging between $5 million and $20 million. AloStar Business Credit is the asset-based lending arm of AloStar Bank of Commerce.
Sycamore Networks Solutions, Inc. is a provider of intelligent optical networking and multiservice access solutions that enable fixed line and mobile operators to improve utilization of network capacity, increase operational efficiencies and cost-effectively transition from circuit to packet services while ensuring the highest degree of service availability.
Marlin Equity Partners is a global private investment firm with over $1 billion of capital under management. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company's outlook and enhances value.