TULSA, Okla.--(BUSINESS WIRE)--Central Security Group (“CSG”), a leading provider of security and smart home solutions in the United States and a 2016 Inc. 5000 Fastest-Growing Company, announced today it has closed on a $40 million incremental first lien term loan alongside a 12-month maturity extension across its credit facilities. The $40 million in additional financing is part of a broader financing totaling more than $350 million that closed in late 2014.
"We’re pleased to again take advantage of favorable market conditions to add incremental financing to our balance sheet, which will allow us to accelerate our account growth, acquisition opportunities and geographic expansion," said Richard Ginsburg, president and CEO of Central Security Group. "This additional financing also will allow us to continually enhance the customer experience as well as our growing and unique Alert 360® brand of products.”
Central Security Group operates a multi-channel growth platform, which includes an extensive Authorized Dealer Program and direct-to-consumer teams that serve home and business owners in 26 states. Its core services include its Alert 360® interactive security, home automation, remote video monitoring, energy management solutions, 24/7 alarm monitoring, plus remote control and access using the company’s free Alert 360® mobile app.
Credit Suisse acted as sole lead arranger on the incremental financing and amendments to effect the maturity extensions.
About Central Security Group
With its mobile-friendly Alert 360® offering, CSG is a Top 10 national provider of monitored security and smart home solutions to homes and businesses in the United States and was named as a 2016 Inc. 5000 Fastest-Growing Privately Held Company in America and Best Places to Work. The company operates service branches in 14 cities, offering alarm monitoring, interactive security, home automation and energy management services that provide comfort and peace of mind for more than 215,000 home and business owners from coast to coast. The company also operates Guardian Security Systems, Oklahoma’s largest security company for 40 years, and maintains a state-of-the-art monitoring and customer service center in Tulsa, Okla. For more information, visit www.CentralSecurityGroup.com.