ADS Security has completed a $30 million revolving credit facility with Chicago-based The PrivateBank to refinance existing debt and provide working capital and funding for future acquisitions.
Headquartered in Nashville, ADS says the cash infusion will allow it to expand its base of operations throughout the Southeast.
“Successfully completing a new financing in today’s economic and credit environment speaks to our strong financial position and positive outlook for the future,” says Mel Mahler, chairman and CEO of ADS. “Experience in lending to the security industry, flexibility in customizing the financing to meet our specific needs and outstanding customer service were key in our decision to work with The PrivateBank.”
The strength of ADS’ operations was among the characteristics the bank looked at when selecting it as a partner, says Sean Forrest, managing director of The PrivateBank’s Security Industry Group.
“Our strategy is to team up with the best operators in the business. Mel Mahler and his team have a long track record of growth, success and integrity and we are pleased to be their partner,” Forrest says.
