BOSTON – Rockland Trust’s Security Finance Group has provided a $5 million growth capital facility to Advanced Electronic Systems, LLC, according to an announcement.
This financing “will enable AES to continue to provide top-of-the-line security products and services through ongoing growth strategies,” the announcement says.
“It’s a pleasure working alongside AES, a highly reputable and growing business,” says Spencer Eriksen, specialized lending vice president at Rockland Trust, in the company announcement. “Howie and his team have built a strong company. We are proud to assist them in expanding their enterprise organically and through acquisitions.”
Established in 1973 in Norwalk, Conn., Advanced Electronic Systems provides home and commercial security products along with 24-hour monitoring. AES services more than 4,000 customers across both Fairfield and Westchester Counties.
“AES was searching for a Bank that would be a true partner in helping us grow our business,” says Howard Friedman, president of AES. “Rockland Trust provided immediate guidance and support that showed us they cared about our future, proving that our relationship mattered to them.”
SPP Advisors, LLC advised AES in connection with the credit facility. Kleinbard LLC represented Rockland Trust as legal counsel.
