Dynamark Receives $20M Credit Facility From Rockland Trust
Proceeds from the revolving line of credit were used to refinance existing bank debt, plus the funds will support Dynamark’s strategic growth plans.
HAGERSTOWN, Md. — Dynamark Monitoring, based here, has received a $20 million revolving line of credit from Rockland Trust’s Security Alarm Lending Group.
Dynamark Monitoring provides wholesale security monitoring services for more than 500 security alarm dealers, along with retail security services for over 13,000 customers across the United States. Proceeds from the revolving line of credit were partially used to refinance existing bank debt. The funds will also be used in the future to support the organization’s expansive acquisition strategy, as well as increase the company’s footprint into new territories, according to an announcement.
“Dynamark Monitoring provides world-class security monitoring services for residential alarm systems (including interactive services), commercial fire alarm systems and elevator and interactive IoT alarms. We are excited to have them as a customer, and we look forward to helping them grow the business through a combination of organic growth and acquisitions,” states Greg Spurr, the executive in charge of security alarm lending at Rockland Trust.
Dynamark Monitoring is recognized as a Five Diamond-certified security provider, a designation administered by The Monitoring Association (TMA) that is granted annually to monitoring companies that satisfy all of the requirements of the “five points of excellence:”
- Commitment to random inspections and quality criteria standards by a nationally recognized testing laboratory such as FM Approvals, Intertek/ETL and UL.
- Commitment to the highest levels of customer service.
- Commitment to ongoing job-related education and testing by having 100% of their central station operators certified using TMA online training series, the industry standard.
- Commitment to raising the industry standards through TMA membership and participation in its activities.
- Commitment to reducing false dispatches.
“We feel very fortunate to work with an experienced team at Rockland Trust who understands and supports our industry. This facility will allow us to keep innovating in support of our dealers,” says Trey Alter, president and CEO of Dynamark Monitoring.
SPP Advisors represented Dynamark in connection with the credit facility.
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