News From Chamberlain, EMAC Network, Monitronics

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Chamberlain Acquires Elite Access

In an attempt to broaden its line of perimeter access control products, The Chamberlain Group Inc. – which manufactures residential garage door openers, commercial door operators and gate openers – has acquired automatic gate and telephone access control company Elite Access Systems Inc.

Chamberlain CEO J. David Rolls sees the move as making his company a comprehensive option for the residential, commercial and institutional markets. “The combination of these two companies is essentially an industry-changing event,” says Rolls, who adds the Elite brand name will be preserved in the acquisition.

Financing Service for Contractors Starts Up

Alex Elliot, who is no stranger to providing financial backing for the security industry, has announced the launch of the EMAC Network in Ojai, Calif.

Elliot co-founded the Dealer Monitoring Alliance (DMAC) back in the 1990s, which also provided financial services for the alarm industry. Elliot says he hopes to provide contractors with the same customer service through EMAC he says they came to expect from DMAC. “We need a fresh approach so dealers can realize financial freedom,” Elliot says.

EMAC offers options to keep 100 percent of contracts, market to renters, and promote the dealer company name exclusively. For more information, call (877) 438-3622 or access www.dealerfunding.com.

Monitronics Completes Refinancing

Monitronics Int’l Inc. has completed a $500 million refinancing of its debt to bring the total debt and equity raised to $600 million.

Some of the proceeds, which included a private investment of $160 million of senior subordinated notes, will be used to repay the alarm monitoring company’s existing bank credit. Part of the balance will go toward expanding the company’s customer base through future acquisitions of long-term monitoring agreements with contractors.

“With today’s tight capital markets, we appreciate that the investment community has confidence in our past results, strategy and business plan to allow for such an initiative,” says Monitronics President and CEO Jim Hull.

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