Alarm Financial Services (AFS) recently provided a senior debt facility to No.1 Fire Safety Systems of Hickory Creek, Texas. No.1 Fire used the loan facility to acquire the fire alarm monitoring and testing business of a long established, locally based company, purchasing approximately 400 commercial customer accounts. The new loan facility includes a term loan and a line of credit.
No. 1 Fire serves the North Texas Area, and specializes in fire alarm installation, test and inspection and alarm monitoring. The company is a local, family owned business, with a management team touting 20 years of combined experience.
“We were impressed with the growth plan that the management team, Rhonda and Zachary, at No. 1 Fire put together and believe the acquisition of these customer accounts will be instrumental in achieving those growth objectives,” said Jim Wooster Jr., president of AFS.
AFS provides funding programs from $150,000 to $1,500,000 to small- and medium-sized security, fire alarm and Personal Emergency Response System (PERS) companies.
“AFS went above and beyond during the process of securing the funding,” said Rhonda Sears, managing member and CFO of No.1 Fire. “Jim Wooster’s experience and flexibility were critical in guiding us through the funding process. With this capital, we’re able to move forward with our plans to expand our commercial fire monitoring and service business.”