TMCnet News
Telmar Network Technology Completes a $50 Million Senior Debt Financing FacilityIRVINE, Calif., Jan. 10 /PRNewswire/ -- Telmar Network Technology, Inc. ("Telmar"), the nation's leading supplier of high-quality, low-cost infrastructure solutions to wireline and wireless communication providers, today announced the completion of a $50 million Senior Debt Financing facility. The company will use the proceeds for general corporate purposes and to pay a special dividend to its investors. Telmar, which offers both refurbished and new network elements, has established its reputation by providing high-quality, refurbished equipment alternatives that meet the critical service requirements of telecommunications carriers, while creating substantial savings (often a 30-70% reduction in costs) for its customers. Telmar's key customer list includes the most recognized U.S. telecommunications carriers, including SBC, Verizon, BellSouth, AT&T, Qwest and MCI. The company also provides a broad range of services to protect and/or enhance telecommunications network infrastructure, including repair services, consignment sales, installation and de-installation and manufacturing and technical support for certain extended life equipment. Telmar was acquired by Lightyear Capital in November 2003 and subsequently acquired Commnet Wireless Supply in March 2004. About Telmar Network Technology Telmar Network Technology, Inc. provides reliable, high-quality, and cost- effective solutions for network maintenance, expansion and asset management. For almost four decades, Telmar Network Technology's unique blend of new and certified reuse telecom equipment and asset management programs have resulted in significant material savings and cost avoidance for the world's largest telecommunication network carriers. Telmar Network Technology is headquartered in Irvine, California and operates facilities in Iowa, Maryland, Pennsylvania, Georgia, Indiana, Florida, and Texas. Lightyear Capital, a New York-based private equity firm that manages more than $2 billion in assets, acquired Telmar Network Technology in November 2003 and announced plans to expand the company both organically and through acquisitions. For additional information about Telmar Network Technology, please visit http://www.telmarnt.com/. About Lightyear Capital Lightyear Capital LLC is a New York based private equity investment firm that makes control investments in the financial services industry and in other select industries in the United States and Europe. Lightyear Capital currently manages approximately $2 billion in capital, including $750 million through The Lightyear Fund. Led by Donald B. Marron, former chairman and CEO of PaineWebber Group, Inc., Lightyear's senior investment professionals each have an average of more than 20 years of financial services operating and investment experience. For more information, please visit http://www.lycap.com/. Telmar Network Technology, Inc. CONTACT: Kelly S. May of Telmar Network Technology, +1-949-585-9788,[email protected]; Elizabeth Fogerty of Lightyear Capital,+1-212-843-8071, [email protected] Web site: http://www.telmarnt.com/http://www.lycap.com/ |