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Advanced Electronic Systems secures $5 million in financing

Advanced Electronic Systems secures $5 million in financing

BOSTON— Advanced Electronic Systems (AES) announced that it has received a $5 million growth capital facility from Rockland Trust’s Security Finance Group.

This financing will enable AES to continue to provide top-of-the-line security products and services through ongoing growth strategies, the company said.

“AES was searching for a bank that would be a true partner in helping us grow our business. Rockland Trust provided immediate guidance and support that showed us they cared about our future, proving that our relationship mattered to them,” said Howard Friedman, president of AES.

Advanced Electronic Systems“It’s a pleasure working alongside AES, a highly reputable and growing business,” noted Spencer Eriksen, specialized lending vice president at Rockland Trust. “Howie and his team have built a strong company. We are proud to assist them in expanding their enterprise organically and through acquisitions.”

Established in 1973 in Norwalk, Ct., AES provides home and commercial security products along with 24-hour monitoring to over 4,000 customers across both Fairfield and Westchester Counties.

Rockland Trust is a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts and Worcester County, as well as commercial banking and investment management offices in Massachusetts and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses.

SPP Advisors, LLC advised AES in connection with the credit facility. Kleinbard LLC represented Rockland Trust as legal counsel.

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