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Nautic Purchases Contec

Private equity firm Nautic Partners LLC today announced the acquisition of Contec Corp., a provider of repair and maintenance services for digital cable set-top-boxes to original equipment manufacturers and cable TV providers.

Nautic made a $50 million equity investment in Contec. CIT Group, Merrill Lynch Capital, and National City Bank provided senior debt financing for the transaction. Daniels & Associates represented Contec.