Tag: Citizens Bank
American Alarm and Communications receives $25m
October 7, 2016SSN Staff
BOSTON—Citizens Bank on Oct. 4 announced today that Citizens Commercial Banking's Security Finance Group is providing a $25 million credit facility to American Alarm and Communications.Contacted by Security Systems News, Lou Sampson, chief financial officer of American Alarm and Communications, said in an email, “We have had a banking relationship with Citizens for more than 15 years. So, adding this new credit facility is a natural evolution of our work with the bank. At American Alarm...
Dynamark gets $15m in funding
September 14, 2016Spencer Ives
HAGERSTOWN, Md.—Dynamark Monitoring, a wholesale central station based here, received a $15 million senior credit facility from Citizens Commercial Banking, a division of Citizens Bank.“The line of credit is really meant for acquisitions and expansion of the business,” Trey Alter, Dynamark's president and CEO, told Security Systems News. “We're always looking for quality central stations and well-managed alarm companies that are looking to partner with a larger company, or...
Lydia receives $75 million
January 27, 2016Spencer Ives
WILLIAMSTOWN, N.J.—Lydia Security Monitoring, the parent company of COPS Monitoring, received a $75 million credit facility from Citizens Bank, the bank announced Jan. 25.“Lydia plans to use this line of credit for general corporate purposes and to expand its presence in the market,” David Smith, COPS' director of marketing and communications, told Security Systems News, in an email interview.Citizens served as lead left arranger and administrative agent for the transaction.Jim...
Citizens Bank wants to grow its security lending
August 10, 2015Martha Entwistle
BOSTON—Citizens Bank wants to do more security alarm deals and “expand around the edges” to adjacent businesses, Greg Buscone, SVP and market manager of Specialized Banking at Citizens Commercial, told Security Systems News.As part of this effort, Citizens has hired Christopher E. Needham and Kenneth J. Mooney as managing directors of Citizens' Security Alarm Industry Banking team. Citizens is looking to expand its “traditional EBITDA lending and RMR lending,” as well...
Security Networks ups credit facility by $100 million
May 2, 2012Martha Entwistle
WEST PALM BEACH, Fla.—Security Networks, a super-regional based here, announced April 30 that it has extended its credit facility by $100 million, bringing the total to $250 million.“It allows us to stay ahead of the curve in terms of our capital structure, to execute our business plan,” Rich Perry Security Networks CEO told Security Systems News.The company is “40 percent over planned production” so far in 2012 and has had about 38 percent CAGR for the past five years....
ASG ups credit facility to $250m
April 25, 2012Martha Entwistle
BELTSVILLE, Md.—ASG Security now has a quarter of a billion dollars on hand, thanks to a recent $20 million extension of its previous $230 million credit facility, the company announced April 25.ASG closed that $230 million facility just over a year, in January 2011. Why add to it now?“The capital is available and terms are very favorable,” ASG CFO Ralph Masino told Security Systems News. “We didn't need the additional capacity today, but it gives us ample dry powder to...
ASG closes $230m line of credit
February 3, 2011Martha Entwistle
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.
“It gives us added capital to continue our growth strategy,” ASG CEO Joe Nuccio told Security Systems News. “There are a number of opportunities we've been looking...