ADS increases line of credit with Bank of America
NASHVILLE, Tenn.—In conjunction with new leadership changes, ADS Security has increased its line of credit with Bank of America from $25 million to $40 million, according to a company statement.
The move positions the company to proceed with its plan to grow through strategic acquisitions. Advanced technology will play a critical role in the company’s expansion.
ADS announced Dec. 12 that CEO and Chairman Mel Mahler is stepping down to become chairman emeritus, and that current ADS president and COO John Cerasuolo will become CEO.
“Technology is changing the way we serve customers in the security industry and ADS is well-positioned for the future,” Cerasuolo said. “We will continue to acquire quality companies across the Southeast and introduce new technology. We expect 2012 to be a record year for revenue and growth.”