World Wide Security Seeks to Increase Market Share With Higher Revolving Line of Credit for Acquisitions
World Wide Security, Garden City, N.Y., announced that CapitalSource Bank, a commercial lender and a wholly owned subsidiary of CapitalSource Inc., increased World Wide Security’s revolving line of credit from $5 million to $8 million.
“The increase in the revolving line of credit will help us fund acquisitions. We will be announcing two acquisitions by the end of this year and are in negotiations with four more planned for the first half of 2012,” explained Ken Mara, president and chief executive officer of the company.
Mark Simson, chief financial officer for World Wide Security led the financing for the extension. “The relationship with CapitalSource has been a critical component in facilitating past and present growth of the company. We really appreciate the level in which they understand the business and for the continued support,” Simson said.
World Wide Security provides security solutions through integrated products. Part of the company’s strategy for growth includes penetrating new and existing security markets with enhanced product offerings and influencing purchasing trends through aggressive pricing structures for customers. “We closed this year having had our best year ever. The company also had internal growth in all departments and we anticipate a banner year in 2012 delivering quality security solutions and technology to our clients,” Mara stated.