ASG Security & CapitalSource Close $250 Million Loan Facility
CapitalSource, Los Angeles, a commercial lender to small and mid-sized businesses, closed a $20 million increase to its revolving credit facility with ASG Security, ranked No. 9 in the SDM 100.
Based in Beltsville, Md., ASG offers commercial and residential security solutions and services throughout New England, the Mid-Atlantic region, Texas and Oklahoma. The company has more than 150,000 customers.
ASG now has a $250 million line of credit with CapitalSource and other investors in this facility, which include Bank of America, Citizens Bank, Goldman Sachs, Madison Capital and The PrivateBank. ASG will use the proceeds from the loan extension to continue its growth strategy, the company said.
“We have been a CapitalSource customer since 2004, and it’s important for us to have knowledgeable, experienced lenders who understand our space,” said ASG chief executive officer Joe Nuccio.
ASG chief financial officer Ralph Masino added, “The $20 million increase of our loan facility by CapitalSource provides us with the capital we need to continue building our business over the next several years. We appreciate the ongoing support from CapitalSource and other debt partners.”
The CapitalSource Security Lending Group works with middle-market companies across multiple verticals and provides a broad range of products to address the complex challenges of the security industry. It specializes in providing innovative debt facilities to companies who protect life, property, information and the U.S. homeland.