TECSYS concludes $10 million financing agreement
Following increased demand, company pursues growth opportunity.
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TECSYS, a leading supply chain management software company, announced today that it has completed a financing agreement of up to $10 million with the National Bank of Canada to support the Company’s growth.
The $10 million financing agreement includes a five-year $5 million term loan and a $5 million operating line of credit.
“Over the last eighteen months we have experienced a significant increase in demand for our software and services resulting in the growth of our backlog, human resources and associated capital infrastructure,” commented Peter Brereton, president and CEO of TECSYS. “We have also accelerated our investments in R&D. The financing agreement we have just concluded will provide us with the added liquidity necessary to take advantage of the current growth opportunity.”
About the AuthorJosh Bond, Contributing Editor Josh Bond is Senior Editor for Modern, and was formerly Modern’s lift truck columnist and associate editor. He has a degree in Journalism from Keene State College and has studied business management at Franklin Pierce University.
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