CSG gains $40 million in financing
By Spencer Ives
Updated Wed July 12, 2017
Central Security Group on July 6 announced that it received an incremental first lien term loan of $40 million, as well as a 12-month maturity extension to its credit facilities.
The new funding “is part of a broader $350 million financing the company started in 2014. This was an add on to that financing,” Richard Ginsburg, president and CEO of Central Security Group, told Security Systems News in an email interview. CSG finances through Credit Suisse, Ginsburg noted.
Asked about growth initiatives, Ginsburg said, “We continue to grow our business through our long-standing Authorized Dealer Program, supplemented by our organic efforts.”
In the recent announcement, Ginsburg mentioned that the funding will help the company with geographic expansion, acquisitions and growing its account base. The announcement also emphasized the company's Alert 360 offering, which provides interactive security.
Concerning acquisitions, Ginsburg told SSN, “We are always looking but are very selective.”
Ginsburg discussed what CSG looks for in an ideal acquisition. “We would consider quality companies with customers put on through more traditional marketing,” he told SSN. “We also look for companies with good employees and managers who are hitting glass ceilings because of the company's size and who would benefit from a company like ours, with more resources, financing, and a positive culture.”
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