Dynamark Monitoring Receives $15 Million Senior Credit Facility From Citizens Bank
September 9, 2016
Citizens Commercial Banking has provided a new $15 million senior credit facility to Dynamark Monitoring Inc., a provider of wholesale monitoring services to security alarm dealers and alarm services to retail and commercial customers.
Dynamark will use the credit facility to refinance existing debt, fund growth both organically and through acquisitions, and for general corporate purposes. Dynamark recently moved its monitoring center to a larger facility and this credit facility will provide ample financial resources for continued acquisitions and investments in emerging technologies, Citizens Bank reported in a press release. SPP Advisors LLC represented Dynamark in the transaction.
“It was a pleasure working with the Citizens Bank team and their experience in this industry was a key differentiator,” said Trey Alter, CEO and president of Dynamark Monitoring. “Citizens’ expertise set the tone for the whole transaction — from the smart ideas the team brought to meetings to the great deal execution.”
“We are excited to have Dynamark as a new client at Citizens Bank,” said Greg Buscone, senior vice president and market manager of specialized banking at Citizens Commercial Banking. “We look forward to working with the Dynamark team to support their growth and success.”