ADS Security, L.P. Announces $30 Million Refinancing
6/10/2009
Nashville, TN – ADS Security, L.P. (ADS), headquartered in Nashville, Tennessee, recently announced the completion of a $30 million revolving credit facility with The PrivateBank which is based in Chicago, Illinois. The revolver refinanced existing indebtedness and will provide working capital and funding necessary for acquisitions as ADS continues to expand its base of operations throughout the southeast.
“Successfully completing a new financing in today’s economic and credit environment speaks to our strong financial position and positive outlook for the future. Experience in lending to the security industry, flexibility in customizing the financing to meet our specific needs and outstanding customer service were key in our decision to work with The PrivateBank,” said Mel Mahler, Chairman and Chief Executive Officer of ADS.
Sean Forrest, Managing Director of The PrivateBank’s Security Industry Group adds, “Our strategy is to team up with the best operators in the business. Mel Mahler and his team have a long track record of growth, success and integrity and we are pleased to be their partner.”
About ADS Security, L.P.
Headquartered in Nashville, Tennessee, ADS Security (ADS) is ranked the 23rd largest electronic security firm in the nation according to the 19th annual Top 100 rankings compiled by Security Distributing & Marketing (SDM), a leading industry publication. ADS is the only Tennessee-based company to hold a position among SDM’s prestigious top 25 slots and has ranked in the Top 100 for 18 consecutive years.
ADS was established in 1989 and currently serves over 70,000 businesses, industrial facilities and residences throughout the southeastern United States. ADS provides a full range of burglar and fire alarms, as well as video surveillance and access control systems.
ADS Security operates the only UL-listed Central Station monitoring operation in Middle Tennessee. Each Central Station Operator at ADS has earned the Five Diamond Central Station Certificate, the highest training certification available in the industry.
For more information, visit their website at www.adsalarms.com.
About PrivateBancorp, Inc.
PrivateBancorp, Inc. is a growing diversified financial services company with 23 offices in nine states and $10.4 billion in assets as of March 31, 2009. Through its subsidiaries, PrivateBancorp delivers customized business and personal financial services to middle-market commercial and commercial real estate companies, as well as business owners, executives, entrepreneurs and wealthy families.
For more information, visit their website at www.theprivatebank.com.
Media Contact:
Lisa Buckholts
Director of Marketing
615-695-6561
lbuckholts@adsalarms.com