Imperial Capital announced the successful completion of a $230 million 9 1/4 percent senior secured notes (notes) offering for Interface Security Systems LLC, St. Louis, Mo., a provider of managed IP-based solutions. Interface is a portfolio company of SunTx Capital Partners.
Imperial also served as the exclusive advisor to Interface in arranging a new $45 million revolving credit facility (revolver), provided by Capital One, N.A., which was undrawn as of the closing. The proceeds from the notes were used in part to repay existing indebtedness and, along with the revolver, can be used to help fund future growth. Interface is a national provider of bundled physical security and secured managed network services to primarily large, commercial multi-site customers. The company believes it provides the most comprehensive internet protocol technology-enabled managed security solution in the market.
“We look forward to strategically allocating the new capital, along with our substantial internal cash flow from operations, to continue growing the business, providing differentiated products and services and gaining market share,” said Michael Shaw, chief executive officer of Interface Security Systems LLC.
“Interface, as the leader in a break-out new category for business services at the convergence of physical and network security, is positioned for extraordinary success. We look forward to continuing our support of the company as it grows,” added John E. Mack III, managing director and co-head of Investment Banking.