Emtec, Inc., a Radnor, PA-based IT consulting firm providing industry-specific digital solutions, received new senior secured credit facilities from LBC Credit Partners, a provider of financing solutions to middle-market companies.
The amount of the financings were not disclosed.
The proceeds were used to refinance the company’s existing debt, to acquire Summit Technology as well as for limited share repurchases, working capital and future acquisitions.
Led by Dinesh Desai, Chairman and Chief Executive Officer, and Greg Chandler, Chief Financial Officer, Emtec provides digital solutions to organizations in the enterprise, government, and education markets. The company’s offerings span the entire IT lifecycle from Advisory through Enterprise, Custom, Mobile and Cloud Applications, as well as Analytics and Infrastructure Services.
It has offices in the U.S., Canada, and India.