Alarm Capital Alliance receives $9.5 million
NEWTON SQUARE, Pa.—Alarm Capital Alliance, a security and alarm monitoring company based here, received a $9.5 million investment from Alcentra Capital Corporation.
Ellida McMillan, Alcentra’s chief accounting officer, called it an expansion of ACA’s current facility; Alcentra is investing alongside others. “We know the other partners in the deal, we’ve worked with them before. So, we felt comfortable with the group that we were working with,” McMillan told Security Systems News.
Alcentra announced the investment on May 20. The deal was finalized in late April, according to McMillan.
McMillan could not comment on how ACA will use the investment.
She pointed to Alcentra’s SVP, David Scopelliti, as a factor in choosing ACA for investment. “In his previous employment, he did several [security] deals, so he is familiar with the space,” she said.
“Having somebody on the team who was comfortable with the [security] space and knows how the space works [helped in the investment],” McMillan said.
This is Alcentra’s first investment in the security industry, McMillan said, and it’s possible that Alcentra could invest more in security in the future.
Alcentra Capital Corporation, based in New York, is part of Alcentra Group. Alcentra Group has accounts worth a combined $23 billion.
ACA has about 170,000 nationwide accounts.
Contacted by SSN, Alarm Capital Alliance's SVP of marketing, Tammy Beil, said the company has nothing to add to Alcentra’s prepared release, which stated that the investment would “refinance a portion of the company's existing debt and provide additional growth capital.”