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The funding is being used primarily to expand the in-house manufacturing capability and support significant revenue growth of Polatis.
With over 1,250 systems shipped worldwide, Polatis is the world leader in optical switching technology innovations for remote fibre-layer provision, protection, monitoring, reconfiguration and test.
The company’s optical matrix switch technology applies leading performance to deliver dynamic optical networking for telecommunication, data centres, government test, and video markets.
By expanding its in-house manufacturing capability, Polatis is better placed to meet stronger customer demand for its Series 6000 optical matrix switch range, which enables transparent connectivity for up to 192x192 fibre ports.
The financing is also ensuring the company can fast-track product development in growth markets, such as telecom networks, data centre interconnect and government systems.
“This debt financing will enable us to better respond to increasing demand from our customers for Polatis’ leading-edge switch technology,” said Gerald Wesel, President and Chief Executive Officer of Polatis. “It also further supports our plans for continued growth and product development for the next generation of technology.”
Steve Clark, Portfolio Director of Growth Finance at the Bank, said: “Polatis is a highly innovative company and we are delighted to provide funding to support what is an exciting phase of growth.”
This debt financing will enable us to better respond to increasing demand from our customers for Polatis’ leading-edge switch technology.Gerald Wesel, President and Chief Executive Officer of Polatis
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