Rockland Trust’s Security Alarm Lending Group announced on Sept. 10 it has provided a $20 million revolving line of credit to Dynamark Monitoring Inc. Headquartered in Hagerstown, Md., Dynamark Monitoring provides wholesale security monitoring services for more than 500 security alarm dealers and retail security services for over 13,000 customers across the United States. Proceeds from the revolving line of credit were used to refinance existing bank debt and the line of credit will be used in the future to support the organization’s expansive acquisition strategy and increase their footprint into new territories.
“Dynamark Monitoring provides world-class security monitoring services for residential alarm systems, including interactive services, commercial fire alarm systems and elevator and interactive IoT alarms,” said Greg Spurr, executive in charge of security alarm lending at Rockland Trust. “We are excited to have them as a customer, and we look forward to helping them grow the business through a combination of organic growth and acquisitions.”
“We feel very fortunate to work with an experienced team at Rockland Trust who understands and supports our industry,” said Trey Alter, president and CEO of Dynamark Monitoring. “This facility will allow us to keep innovating in support of our dealers.”