Nautic nabs Contec
Nautic Partners LLC has acquired Contec Corp., a digital cable set-top repair and maintenance firm based in Schenectady, N.Y. Financial terms were not disclosed.
In addition to its core repair and maintenance business, Contec also refurbishes and sells digital set-tops via a remanufacturing division. Contec also serves as the exclusive global distributor of Motorola digital set-top box parts.
"Our acquisition of Contec combined several areas of focus for Nautic, which include expertise in manufacturing and business services as well as an interest in stable and growing areas of communications," said Habib Gorgi the managing partner of Nautic, which also made a $50 million equity investment in Contec.
Daniels & Associates advised Contec on the deal.