American Alarm & Communications Inks $25M Credit Facility
American Alarm said it will use the revolving credit facility from Citizens Bank for general corporate purposes and acquisitions.
BOSTON – Citizens Commercial Banking’s Security Finance Group has provided a $25 million credit facility to Arlington, Mass.-based American Alarm & Communications. Citizens Bank is the sole lender.
Founded in 1971, American Alarm is a leading residential and commercial provider of security and life-safety systems across New England. The company is managed by Lou and Wells Sampson, sons of the company founder, Dick Sampson.
A new credit customer of Citizens, American Alarm will use the revolving credit facility for general corporate purposes and acquisitions, according to a news release.
“The Citizens’ Security Finance Group is a class act. Their experience in this industry was a key differentiator,” says Lou Sampson, CFOof American Alarm & Communications. “The Citizens team followed through on promises and worked hard to bring helpful best practice ideas to the table.”
Established in 1971, American Alarm has offices in Arlington, Mass.; Randolph and Worcester Mass.; Manchester, N.H.; and Warwick, R.I. The company operates a fleet of more than 90 vans staffed by fully-licensed technicians available for routine service calls or emergency repairs, according to its website.
“We are very excited to have American Alarm as a new credit client at Citizens,” says Greg Buscone, senior vice president and market manager of specialized banking at Citizens Commercial Banking. “With a team dedicated to companies in the electronic security industry, Citizens looks forward to working with the American Alarm management team to support their growth and success.”
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