SAFE Security Refinances for $130M
SAN RAMON, Calif. — A five-bank syndicate, led by Bank of America, has refinanced SAFE Security’s senior debt facility with $130 million of capital.
Founded in 1988, SAFE Security provides monitoring services, installation, maintenance and other related services to homeowners and businesses nationwide. The company purchases, finances and serves residential and commercial security alarm monitoring contracts, in addition to installing alarm systems. Acquired by investment firm ICV Partners last year, the company announced it will use the new facility to pursue its 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. It also gives us financial flexibility to provide the finest security services and monitoring to our customers nationwide,” SAFE Security President and CEO Paul Sargenti says.
In addition to Bank of America, Bank of Montreal, One West Bank, Madison Capital and US Bank also provided the funds.
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