CHICAGO—David Stang, who led Bank of America’s Security Alarm Group for the past 10 years, this week launched Stang Capital Advisory to assist middle-market companies with financing.
OREM, Utah—The fact that Goldman Sachs and The Beekman Group are NorthStar Alarm Services’ new equity partners is a “vote of confidence” in that summer sales company, according to Henry Edmonds, president of The Edmonds Group, which facilitated the transaction.
NorthStar Alarm Services is recapitalizing with a group of new investors including Goldman Sachs and The Beekman Group, and also has expanded its credit facility to $40 million with Bank of America and Zions Bank, the Orem, Utah-based company announced today.
SAN RAMON, Calif.—SAFE Security, a security alarm company based here, has acquired approximately 11,000 security alarm monitoring accounts from Utah-based Pinnacle Security, according to a company statement. The subscriber accounts represent $500,000 of RMR.
SAN RAMON, Calif.—SAFE Security completed a $130 million senior debt refinancing in late February with five lenders led by Bank of America. The new credit facility is an increase of $55 million, or 73 percent, over SAFE’s previous financing of $75 million.
SAN RAMON, Calif.—A five-bank syndicate led by Bank of America has refinanced SAFE Security’s senior debt facility with a $130 million capital infusion, according to a company statement. The capital will be used toward the company’s growth strategy.
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.
Wayne Wahrsager’s New York Merchants Protective Co. Inc.—an alarm company in existence for more than 100 years—is no more as the result of a $20 million breach-of contract lawsuit filed against the company and Wahrsager last year by Bank of America.
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.
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.
