FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


CapitalSource Closes $20MM Facility Increase for ASG Security

April 05, 2013, 07:27 AM
Filed Under: Specialty Industries

CapitalSource closed a $20 million increase to its revolving credit facility with ASG Security. The company plans to utilize the additional capacity to continue executing on its growth plans over the next several years.

Based in Beltsville, Md., ASG offers residential and commercial security solutions and services throughout New England, the Mid-Atlantic region, Texas, Oklahoma and Louisiana. The company has more than 170,000 customers.

ASG now has a $270 million line of credit. CapitalSource and the existing lenders were joined by Capital One Bank, TD Bank and Bank of Oklahoma as part of this increase.

“It’s important for us to have knowledgeable and experienced lenders who understand our space, which is why we have partnered with CapitalSource since 2004,” said ASG CEO Joe Nuccio. “We appreciate the support we have received from the existing bank group and look forward to working with our new lending partners.”

“There was strong demand from the lending community to join the ASG loan facility as demonstrated by the fact that the increase was substantially over-subscribed,” said Will Schmidt, managing director for CapitalSource Security Lending Group. “This was not a surprise given the company’s strong performance, excellent management team and the favorable lending environment.”

The CapitalSource Security Lending Group works with middle-market companies across multiple verticals and provides a broad range of products to address the complex challenges of the security industry. It specializes in providing innovative debt facilities to companies who protect life, property, information and the U.S. homeland.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.