Global Capacity Inc. has secured the $15 million it needs to acquire Vanco Direct USA LLC. It also has gotten special temporary permission from the FCC to operate the Vanco business.
Global Capacity, whose parent is Capital Growth Systems Inc., (CGSY.OB) said last week it’s buying Vanco Direct. The firm bills itself as the first global telecom logistics provider, and expects the Vanco assets to solidify this position with the addition of software and intellectual property.
Capstone Investments provided the $15 million.
“In this extraordinarily challenging credit market, it would have been impossible to get this transaction closed without their perseverance and commitment,” said Patrick Shutt, CEO of Global Capacity.
