Sentry Security Secures $6M Credit Facility From Rockland Trust
Rockland Trust’s security alarm lending group has executed six deals over the past 12 months, totaling more than $66 million.
BOSTON — The security alarm lending group at Rockland Trust Co. has provided a $6 million revolving line of credit to Sentry Security, a full-service security alarm company based in Chicago.
Sentry Security installs, monitors and services fire alarm systems, residential security systems and commercial integrated security systems, including intrusion, access control and video systems. The company will use the revolving line of credit to refinance debt and provide capital for future acquisitions, with the intent of continuing to expand operations in the greater Chicagoland area, according to an announcement.
“We are thrilled to work with Rockland Trust’s accessible team of professionals who not only understand our particular needs, but also have a proven track record within the security alarm industry,” said David Balestrery, wwner and CEO of Sentry Security. “This new capital will allow us to grow and continue to deliver smart, connected security solutions in the years ahead.”
Rockland Trust’s team of security alarm lending experts has more than 30 years of combined industry experience. By offering customized financing solutions with commitments ranging from $2 million to $25 million, the group has closed more than $60 million in security alarm deals in the past year, in addition to this latest transaction with Sentry Security, the announcement states.
“Sentry Security provides a wide range of integrated security services to commercial and residential customers. They share our belief that the best solutions are tailored to the specific needs of the client, and the best providers take the time to innovate those solutions,” says Greg Spurr, vice president, and group head of security alarm lending at Rockland Trust. “We look forward to helping them grow their business, and we are excited to begin our relationship together.”
Independent Bank Corp. (Nasdaq: INDB) is the holding company for Rockland Trust Co., a full-service commercial bank headquartered in Rockland, Mass., near Boston.
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