News
NewSpring Capital Announces Mezzanine Investment in Fastech Integrated Solutions, LLC
Radnor, Pa., December 4, 2009 – NewSpring Capital, a family of private equity funds providing growth and expansion capital to the Mid-Atlantic region, today announced that NewSpring Mezzanine, L.P. the dedicated mezzanine fund of NewSpring Capital, invested $2.15 million of senior subordinated debt in Fastech Integrated Solutions, LLC. Fastech Integrated Solutions is repositioning itself as a pure play information technology business focused on being a Value Added Reseller (“VAR”) of IT hardware and converged IP telecom while also providing IT managed services. The funding will provide capital to fund two strategic acquisitions, Transcend Communications and Aserdiv, Inc., which will assist in the transition out of Fastech’s legacy application software business. Fastech Integrated Solutions, LLC was founded in 1982 and is based in Broomall, Pennsylvania. Fastech Integrated Solutions, LLC is a former subsidiary of Watchit Media, Inc.
“We are happy to be in the position to support Fastech as they strengthen their position as a market leader in the IP telecom and IT managed service industry,” said Steve Hobman, General Partner of NewSpring Mezzanine. “Transcend and Aservdiv bring strong management teams and innovative technologies that will help bring the new company to the next level.”
About Fastech Integrated Solutions
Fastech Integrated Solutions provides cost-effective IT, network, and telecom solutions for the mid-market. Fastech delivers products and expertise in technologies such as Voice-over-IP telephony, WAN Optimization, data center management, and data replication. With these offerings, Fastech helps organizations solve real business problems such as optimizing voice and data networks, improving call center performance, ensuring business continuity in case of a disaster, complying with major regulatory standards (such as SAS 70 and PCI DSS), and reducing staffing and operations costs in the data center. One of the largest Value-Added Resellers in the US, Fastech is headquartered in Springfield, PA and maintains major regional locations in Minneapolis and Boston. To learn more about Fastech Integrated Solutions, LLC, please visit the company’s website at www.fastechis.com.
About Transcend Communications
Founded in 2001, Transcend which is headquartered in Minneapolis provides IP telephony, data security, IP video and networking solutions to a variety of local and national businesses. Transcend is a VAR and integrator of ShoreTel, Avaya, HP, RSA, LifeSize and VBrick technologies. Through developed relationships with some of the most prominent suppliers in the IP telephony, Transcend has become the #1 Worldwide ShoreTel Reseller, an Avaya Silver Partner, an HP Expert, a Cisco Partner, an Adtran Gold Partner, and has received VBrick’s VNCP Certifications.
About Aserdiv, Inc.
Aserdiv which is headquartered in Springfield, PA, provides professional services to help clients evaluate, design, test and implement best in proactive and emerging technologies to support enterprise information technology environments. These services and technologies provide high quality, cost effective solutions to challenging IT obstacles. Aserdiv offers its clients various IT consulting and data center services.
