Salem Five backs 105-year-old Ockers Technologies with $15M credit facility
What's the deal? Salem FiveDealroom has a profile for this one. Try Dealroom → Business Credit has closed a $15 million senior credit facility for Ockers TechnologiesDealroom has a profile for this one. Try Dealroom →, a family-owned technology solutions provider based in Middleborough, Massachusetts. The package combines a revolving line of credit with a commercial real estate loan.
What's the endgame? The asset-based lending deal gives Ockers capital to pursue acquisitions, expand its customer base, and invest in talent. It also helps the company manage the seasonality of state contract payment cycles.
Who is Ockers? Founded more than a century ago as an office equipment company, Ockers now supplies audiovisual systems, managed IT services, infrastructure, lighting, and mission-critical IT. It serves municipalities, schools, and other public sector organisations across Massachusetts.
Why now? The timing lines up with the start of the state's new fiscal year. "The timing couldn't be better," said Jay Houser, third-generation president and CEO, adding that the team wanted a partner that "would take the time to understand our business."
The signal: The deal sits in the smaller tier of financings tracked in our database, well below the median size. But for a public-sector-focused vendor, matching debt to lumpy state payment cycles is the real prize — a reminder that fit, not size, defines a workable facility.
Read more: ABF Journal
Image credit: ChrisDag
