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NorthStar Alarm Expands Credit Facility With BofA, Zions Bank to $40MM

May 16, 2013, 07:59 AM
Filed Under: Specialty Industries

NorthStar Alarm Services entered into a transaction to recapitalize the company with a group of new investors including Goldman Sachs and The Beekman Group. In conjunction with the recapitalization, the company has expanded its current credit facility to $40 Million with Bank of America and Zions Bank.

NorthStar is a Utah-based security provider that was founded in 2000. NorthStar is a leading national alarm company with customers in eighteen states throughout the U.S. The company has grown by over 30% per year for the past six years and currently has over $1 million in monthly recurring revenue, ranking among the largest U.S. residential security providers.

NorthStar is a Honeywell Authorized Dealer. In addition to providing the latest technology in security products and services, the company is now offering new home automation and video service options, including thermostats, door locks, lighting and appliance controls, and smart garage controls.

The Edmonds Group, a specialized investment bank focused on recurring revenue businesses, has acted as an exclusive financial advisor to NorthStar in facilitating this transaction.

The Beekman Group is a leading private equity firm dedicated to bringing financial and operational resources to lower middle-market companies.

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