Tag: Bank of America
Interface Systems appoints Bud Homeyer as Chief Operations Officer
July 26, 2022SSN Staff
ST. LOUIS—Interface Systems, a managed service provider delivering business security, managed network, UCaaS, and business intelligence solutions to distributed enterprises, today announced that it has appointed Bud Homeyer as Chief Operations Officer (COO).
Homeyer previously served as Interface’s Executive Vice President of Enterprise Solutions, where he was instrumental in enabling digital transformation for large retail and restaurant customers. Prior to Interface, Homeyer held...
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...
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...
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...
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...
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:...
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,”...
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...
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,”...
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....