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OLDSMAR — Vology Data Systems raised $32.5 million earlier this month in debt financing and an equity offering.
The cash includes $12.5 million of credit with Bank of America; equity from Boston-based LLM Capital Partners LLC; and subordinated debt from two other investment firms.
Based in Oldsmar, Vology Data Systems sells new and refurbished communications and networking equipment. It previously was known as Network Liquidators. In 2008, the company's CEO, Barry Shevlin, was the Gulf Coast Business Review's Entrepreneur of the Year.
“This infusion of new capital substantially improves our balance sheet and will enable Vology to more rapidly advance our market position and extend our product and service offerings to meet the evolving needs of our current and expanding customer base,” Shevlin said in a prepared statement.
The amount of LLM Capital Partners' equity stake was not disclosed. The two other debt holders include Banyan Mezzanine Fund LP, based in Miami; and Birmingham, Ala.-based Harbert Mezzanine Partners II LP.
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