ThinCats, the alternative finance specialist, has provided Linglithgow-based Calnex Solutions with growth capital financing, both to enable the acquisition of Belfast-headquartered JAR Technologies and the continued expansion of the combined entity.
Calnex Solutions is a leading provider of R&D test solutions for telecom technologies. The company serves customers in more than 45 countries, including many of the largest telecom companies in the world.
The acquisition, for an undisclosed sum, increases the Calnex product portfolio to include JAR’s portfolio of multi-port, multi-user network emulators complementing Calnex’s existing Attero product line.
Tommy Cook, CEO of Calnex Solutions said: “ThinCats fills an important gap in the market for ambitious SMEs that are looking for a competitive source of funding to drive acquisitions and growth. The quantum we required sits somewhere between angel investment and venture capital, so we are pleased that an alternative finance provider has emerged that is aligned with our business and supportive of our plans to scale. ThinCats is the ideal funding partner for us as we prepare to enter the next exciting stage of our development.”
He continued: “This transaction has been a real enabler for our business. SD-WAN, Cloud/OTT and Data Centers are hot new application areas for Network Emulation. These application areas require products with flexibility and high port count. The acquisition of JAR Technologies enables Calnex to effectively address these key applications as the JAR:Emulate product line provides this flexibility with its scalable, multi-port, multi-user platform.”
Geoff O’Brien, Origination Manager, Scotland at ThinCats commented: “We have enjoyed working with Calnex Solutions’ management team on this transaction and wish them every success with their growth plans. The acquisition has supported the company in meeting its strategic objectives to secure and integrate a complementary business to achieve economies of scale and augment its product suite.”
“Our objective is always to act as an extension of our clients’ businesses. That starts by spending time on site to get to know the management team and understand their business plans. At ThinCats, we never forget that we are in a privileged position where our clients entrust us with their business. We are committed to helping professional management teams to execute on their plans with flexible growth capital funding that will take them to the next level.”