LOUD Security Secures $7.5M Financing Package from Eastern Bank
Eastern Bank has added LOUD Security Systems, Inc. to its roster of commercial clients, providing $7.5 million in financing to support the Georgia-based integrator's growth plans.
LOUD, founded in 1995 and headquartered in Kennesaw, serves close to 13,000 customers across metro Atlanta and in 20 states. The company designs, installs, and maintains systems spanning intrusion and fire alarms, access control, video surveillance, automation, and monitoring.
The financing package includes a revolving line of credit and a suite of treasury management services. According to Eastern Bank, the structure is intended to give LOUD the flexibility to meet day-to-day capital needs while positioning the company for expansion.
"LOUD is a well-established, growing operator in the security alarm sector and we’re pleased to add them to our portfolio of customers in the alarm services industry," said Greg Buscone, Eastern’s Executive Vice President and Chief Commercial Banking Officer. "We look forward to providing a comprehensive range of financial solutions tailored to support their ongoing day-to-day operations as well as future growth plans."
LOUD Security President John Loud described the financing as key to pursuing both organic growth and acquisitions."Eastern Bank demonstrates a clear understanding of our business and the dynamics of the security industry," he said, adding that the bank’s responsiveness made them "the ideal partner" for the company's next phase.
The deal was advised by Buscone along with Eastern Bank's Senior Vice President Brendan O'Neill and Senior Vice President Matthew Hunt.