Commercial lender CapitalSource announced last week that it will provide a $10 million loan to Priority One Security.
Based in Greenville, South Carolina, Priority One Security sells, installs, services and monitors commercial and residential burglar and fire alarm systems, as well as surveillance and access control systems. The company monitors more than 12,000 sites, primarily in South and North Carolina.
According to a statement, the company will use the loan to fund future growth, refinance existing debt and acquire customer accounts from Orangeburg Security Systems.
"The CapitalSource financing is one of the keys to our growth strategy," said William Francis, founder and president of Priority One Security. "I was very impressed with the professionalism and expertise exhibited by the CapitalSource team throughout the process and look forward to further strengthening our relationship as we continue to grow through acquisitions."