Argyle Security, a provider of solutions and services for the physical electronic security industry has announced that it has acquired loans from Chicago-based PrivateBank and Trust Company totaling $25 million.
According to a press release issued by the company regarding the financing, the funds will be used to settle existing debt, as well as for “working capital†and “general corporate purposes.â€
In a prepared statement, Argyle Chairman and Co-CEO Bob Marbut said that the money would allow the company to grow its’ corrections and commercial businesses.