Security Alarm, Home Automation Company My Alarm Center Receives $50M Loan
The Second Lien Term Loan gives the company a total facility size of $305 million.
The existing First Lien Term Loan was increased by $25 million as well.
LOS ANGELES — Imperial Capital announced the successful placement of a $50 million Second Lien Term Loan for My Alarm Center, a portfolio company of Norwest Venture Partners. My Alarm Center is a provider of security alarm and home automation solutions for residential households in the U.S. with approximately 185,000 subscribers.
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The proceeds from the Second Lien Term Loan were utilized to refinance existing mezzanine notes, which reduced interest and extended maturities. In addition, the size of the existing First Lien Term Loan was increased by $25 million, which alongside the new Second Lien Term Loan creates a total facility size of $305 million, which will provide significant liquidity for My Alarm Center to support its growth efforts.
“Imperial Capital was an exceptional partner to work with during our successful financing efforts. Its contributions to every aspect of the transaction, including structuring and marketing of the Second Lien Term Loan, proved to be instrumental in tremendous lender interest. We are extremely pleased with the outcome of the transaction, which will provide more than sufficient capital to meet our identified growth plan,” said Amy Kothari, Chief Executive Officer of My Alarm Center.
“The strong execution of the Second Lien Term Loan exemplifies the strength of Imperial Capital’s capabilities, as well as investor confidence in My Alarm Center’s compelling value proposition,” said Sonya Brown, General Partner of Norwest Venture Partners.
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