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Ironwood Capital Leads Lenders in My Alarm Center $10MM Funding

October 11, 2016, 07:35 AM
Filed Under: Security Systems

My Alarm Center, one of the largest residential security and home automation providers, with more than 15 years of security and monitoring experience, today announced the company secured $10 million in additional funding led by Ironwood Capital and supported by Alcentra, Saratoga Investment Corporation, NXT Capital and OFS Capital.

The home security market is estimated to grow from $31 billion in 2015, to more than $47 billion by 2020.

“While companies adopt several different strategies in order to achieve successful market penetration, including new product development and acquisitions, only My Alarm Center has achieved 15 years of consecutive growth in all areas with consistently impressive metrics,” said Roger Roche, at Ironwood Capital.

The $10 million is additional second-lien debt, an increase of the $50 million second-lien term loan to $60 million, with the proceeds going to repay a portion of the company’s first-lien debt and fund growth through branch offices and recent acquisition activity.

“This additional funding comes at a time when the acquisition market has opened up with a lot more high-quality opportunities as more small businesses decide to exit given the uncertain economic and political climate, heightened competition, and increasing complexity of home security and automation products,” said Amy Kothari, president and CEO of My Alarm Center. “The current market conditions present an excellent opportunity to complete tuck-in acquisitions in our key markets, supplementing the phenomenal organic growth we are experiencing at our nine branch and satellite locations.”

My Alarm Center provides the most technologically advanced residential and small commercial security services and home automation technologies to households and businesses across the United States. Its core mission is to provide superior alarm monitoring services to keep customers out of harm's way.

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