CENTURY CITY, Calif.—CapitalSource will still be a source of lending for the security industry after it merges with PacWest Bancorp in a $2.3 billion deal early next year. In fact, CapitalSource’s managing director Will Schmidt says he expects the security team to grow in the next few months.
COLUMBIA, S.C.—Electric Guard Dog, based here, a manufacturer and installer of a solar-powered perimeter security system that is electrified and monitored by a central station, announced this week that it secured a new $42.5 million credit facility with CapitalSource.
ST. LOUIS, Mo.—There were two separate, but related announcements in the world of security finance this week. Will Schmidt has taken over the role of managing director of CapitalSource and three CapitalSource executives—Bill Polk, Tom Pagnani and John Robuck—have left CapitalSource to head up a new security lending group at Capital One.
BELTSVILLE, Md.—ASG Security closed Jan 28 on a new $230 million line of credit. Lead by ASG’s longtime banking partner, CapitalSource, this round also includes a new participant, Goldman Sachs.
Also participating in the round are previous investors: Bank of America, Citizens Bank, Madison Capital and PrivateBank.