Skip to Content

Tag: Bank of America


Suppliers

Stang Capital Advisory opens its doors

May 5, 2015Martha Entwistle

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.The goal is to help security and RMR-based companies obtain the financing they need “easier, quicker and on better terms,” Stang told Security Systems News.“Beyond structuring and executing the capital-raising, I can help companies match up how to arrange the dollars, [by finding] the best [combination...

Bank of America, David Stang, Stang Capital Advisory


Read Full Articlered right arrow icon

Residential

Goldman, Beekman see value in NorthStar

May 22, 2013Tess Nacelewicz

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.New York-based private equity firm Beekman led the recapitalization of NorthStar, based here, and is new to the security space. “This is the first investment they've made in the alarm industry but they have looked at...

ASG Security, Bank of America, Goldman Sachs, NorthStar Alarm Services, Residential Security, SSN, The Beekman Group, The Edmonds Group, Vivint, Zions Bank


Read Full Articlered right arrow icon

This Blog's on Fire (And Other Stuff)

NorthStar Alarm partners with Goldman Sachs; gets up to $40m cash infusion

May 15, 2013Tess Nacelewicz

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. The deal, which was six months in the making, is great for NorthStar and is another indication that Goldman likes the security space. In a communication to employees, company president Jason Christensen said, “We believe that this is an...

Bank of America, Goldman Sachs, Jason Christensen, NorthStar Alarm Services, The Beekman Group


Read Full Articlered right arrow icon

Monitoring

SAFE Security acquires 11,000 Pinnacle accounts

March 11, 2013SSN Staff

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.The vintage accounts created between 2008 and 2010 are similar to the 24,000 accounts acquired by SAFE from Pinnacle in early February, the company said.“This completes phase II of the Pinnacle account transaction, and when added to...

Bank of America, Bank of Montreal, ICV Capital, Madison Capital, OneWest Bank, Paul Sargenti, Pinnacle Security, SAFE Security, U.S. Bank


Read Full Articlered right arrow icon

Residential

SAFE Security: $130 million refi to aid growth

March 6, 2013Tess Nacelewicz

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.“It gives us the financial flexibility to pursue our growth strategy,” Paul Sargenti, company president and CEO, told Security System News.He recently told SSN that SAFE's growth strategy involves leveraging its four channels:...

Bank of America, Bank of Montreal, ICV Partners, Madison Capital, OneWest Bank, Paul Sargenti, Pinnacle Security, SAFE Security, U.S. Bank


Read Full Articlered right arrow icon

Also Noted

SAFE Security gets $130m refi

March 4, 2013SSN Staff

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. “In concert with our equity partners at ICV, this expansion of our senior credit lines will provide the capital that SAFE needs to execute its long term growth strategy and stay on track with strategic acquisitions and geographic expansion,”...

Bank of America, Bank of Montreal, Madison Capital, One West Bank, Paul Sargenti, SAFE Security, US Bank


Read Full Articlered right arrow icon

Also Noted

ADS increases line of credit with Bank of America

December 13, 2012SSN Staff

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. The move positions the company to proceed with its plan to grow through strategic acquisitions. Advanced technology will play a critical role in the company's expansion. ADS announced Dec. 12 that CEO and Chairman Mel Mahler is stepping down to become chairman emeritus, and that current ADS president...

ADS Security, Bank of America, John Cerasuolo, Mel Mahler


Read Full Articlered right arrow icon

This Blog's on Fire (And Other Stuff)

Battered but unbowed

August 7, 2012Tess Nacelewicz

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. But Wahrsager tells me he is still very much a player in the security industry—and planning to launch a new alarm company in October with $50 million in funding behind it. “You just brush yourself off and start all over,”...

Bank of America, Commercial Fire & Security, New York Merchants Protective Co. Inc., Professional Security Technologies, Security Systems News, Wayne Wahrsager


Read Full Articlered right arrow icon

Residential

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....

Bank of America, Barclays, Capital One, CapitalSource, Citizens Bank, Goldman Sachs, Oak HIll Capital, PrivateBank, Rich Perry, Security Networks


Read Full Articlered right arrow icon

Commercial

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 fund...

ASG Security, Bank of America, CapitalSource, Citizens Bank, Goldman Sachs Specialty Lending Group, Madison Capital, PrivateBank, Ralph Masino, Security Systems News


Read Full Articlered right arrow icon