ATLANTA — Ackerman Security Systems recently closed a $75 million credit facility, which will help the company enter into new markets. The financing will also enable Ackerman to offer more advanced systems and technology to customers.
“This credit facility will provide Ackerman with the financing it needs to continue its growth strategy,” company President Jim Callahan says. “This includes funding for additional initiatives we are considering such as acquisitions.”
Led by RBS Citizens, Ackerman’s lender group also includes Capital One and TD Bank. All banks have experience in the security industry, which made them a great fit for the systems integrator, according to company CFO Jeff Cohen.
“This financing gives us tremendous flexibility and options,” he says. “While our internal cash flow supports most of our growth, availability of specialized bank financing has enabled us to grow our account base at a pace of more than 20% per year over the last several years. It’s made us one of the fastest growing of the top 25 companies in the industry.”
Founded in 1967, Ackerman provides residential and commercial security solutions in Atlanta and Washington D.C., and serves multisite commercial customers throughout the United States. With more than 85,000 customer locations, the firm brings in roughly $2 million in recurring monthly revenue (RMR).