Security Networks Expands Credit Facility to $250 Million
WEST PALM BEACH, Fla., April 30, 2012 /PRNewswire/ -- Security Networks, LLC today announced that it has successfully expanded its existing credit facility by $100 million, bringing total borrowing capacity up to $250 million. Goldman Sachs Specialty Lending Group remains the lead agent in the loan syndicate, which expanded from four to eight banks with the new financing.
Richard Perry, President and CEO of Security Networks, said, "We are pleased to have increased our financing in such a seamless way. We have added four new, well-respected lenders to our credit facility, doubling the number of banks in our group. With the strength of our operating performance and affiliate-based business model, the additional borrowing capacity will enable us to continue expanding our geographic footprint and accelerating our growth initiatives."
Founded in 2000 by Mr. Perry and headquartered in West Palm Beach, Florida, Security Networks is one of the largest and fastest growing providers of home security services in the United States. The company is a leading provider of high quality life safety systems and services, including the sale, installation, monitoring and maintenance of residential and commercial Security Alarms and related products. The company provides its monitoring services through its UL-listed Central Monitoring operations, which have been recognized as "Five Diamond Certified" by the Central Station Alarm Association. The company's superior customer service has also been accredited by the Better Business Bureau, which rated the company "A+" for reliability and customer satisfaction. Security Networks works with its rapidly growing network of exclusive Affiliate partners, which provide sales and installation support on behalf of the company to its customers.
About Security Networks
Security Networks is a diversified, full service life safety solutions company providing security monitoring and related services to homeowners and businesses coast-to-coast.
Contact: Gary Franklyn, Vice President, Business Development, Security Networks, +1.561.253.1526 or firstname.lastname@example.org.
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