Vision Security closes $35 million credit facility
OREM, Utah—Vision Security, a provider of home automation and monitoring services, recently secured a $35 million syndicated loan transaction with The PrivateBank and Trust, according to a Vision statement.
“This is just the beginning of the continued success we anticipate,” Rob Harris, CEO and founder of Vision Security, said in the statement. “Importantly, we were able to retain 100 percent of the equity in the company and we now have critical financing to grow Vision for years to come.”
The announcement of the credit facility comes on the heels of the company promoting Dan Noble from CFO to president. In the statement, Noble said the credit facility will help Vision achieve some of its key milestones, which include growing the company’s roughly $500,000 in RMR by 75 percent.