ASG ups credit facility to $300 million
BELTSVILLE, Md.—ASG in January upped its credit facility to $300 million.
This is the second time the super-regional has increased its credit limit in 10 months. In April 2013, ASG increased its credit facility from $250 million to $270 million.
At that time, Ralph Masino, ASG CFO, said that the super-regional had the opportunity to up the revolver by another $30 million. The same is true this time. “We increased it by $30 million and we reset the ability to add another $30 million if we’d like to do that at some point,” he said.
Led by CapitalSource, it involved the same nine lenders who were a part of the revolver in April 2013. “We feel good about the current bank group [that all came through with] a commitment,” Masino said.
Also in January, ASG acquired National Alarm Systems of Ft. Lauderdale, Fla., a buy that is expected to propel the super-regional to $10 million in RMR by the end of 2014.