BELTSVILLE, Md. — ASG Security has increased its revolving credit facility to $250 million after receiving a $20 million extension from its lender group.
“The $20 million increase provides us with the capital we need to continue building our business over the next several years,” ASG CFO Ralph Masino says.
ASG’s lender group is led by CapitalSource and includes Bank of America, Citizens Bank, Goldman Sachs, Madison Capital and The PrivateBank.
“We have been a CapitalSource customer since 2004,” ASG CEO Joe Nuccio says. “It’s important for us to have knowledgeable, experienced lenders who understand our space. We look forward to further expanding our relationship as we continue to grow our customer base.”
ASG, which opened its 22nd branch office in December, completed 10 acquisitions in 2011, including Oklahoma City-based LV Systems and Texas-based Texana Security. The company, which has more than 150,000 clients, offers commercial and residential security solutions and services throughout New England, the Mid-Atlantic region, Texas and Oklahoma.