Capital One Offers Vyanet Security $20M Revolving Credit
BETHESDA, Md. — In the second half of 2012, Capital One’s commercial and specialty finance security team closed six transactions — ranging from $5 million to $25 million — representing more than $100 million. Among the deals, full-service security firm Vyanet received a three-year, $20 million revolving line of credit.
“The Capital One Bank Security team provided invaluable support to arm us with the capital we need to grow our business,” Vyanet President Tracy Jones says. “The team’s specialized industry expertise, hands-on approach, and range of resources, made it a great partner for this transaction and in the long-term.”
The Bend, Ore.-based security company installs, monitors and services access control, fire alarm intrusion alarm and video surveillance systems to more than 16,000 customers (60% residential, 40% commercial) throughout Arizona, California, Hawaii and Oregon. The new line of credit will fund Vyanet’s working capital needs to support its growth strategy, including more acquisitions. As part of this transaction, Vyanet also established treasury management and commercial card systems with Capital One Bank.
Vyanet’s leadership and market strategy prompted Capital One representatives to partner with the electronic security firm, according to John Robuck, senior director, commercial and specialty finance, Capital One.
“Our work with Vyanet reflects the momentum we’ve built since Capital One Bank’s Security team entered the market about a year ago,” he says. “We’ll continue to provide this specialized industry knowledge along with the resources of a top 10 U.S. bank as we serve more security companies in 2013.”
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