ADS Security completes $30M refinancing

Tennessee-based ADS Security has announced the completion of a $30 million revolving credit facility with The PrivateBank.

The Private Bank refinanced existing indebtedness and will provide working capital and funding necessary for acquisitions as ADS continues to expand throughout the southeast, according to a statement issued by the company.

"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 ADS Chairman and CEO Mel Mahler.