OGDEN, UT, October 11, 2019 – Mountain Alarm announced the closing of a new $50 million debt facility. Pacific Western Bank led the facility with Eastern Bank participating. The Edmonds Group served as exclusive financial adviser to Mountain Alarm for the refinancing.
Eric Garner, President and CEO of Mountain Alarm said, “We are very pleased with the attractive terms of this new facility. It provides Mountain Alarm with substantial dry power to fund our growth and pursue acquisitions.”
“We greatly appreciated the support we received from Henry Edmonds and his team. They exceeded our expectations in helping us achieve the pricing and flexibility we were looking for,” stated Garner.
“Mountain Alarm has a great leadership team and a strong business model. The new facility will allow them to continue on their path to becoming a super-regional alarm company,” said Henry Edmonds, President of The Edmonds Group.
Will Schmidt, Managing Director of Pacific Western Bank’s Security Lending Group added, “Pacific Western Bank is pleased to extend our long partnership with Mountain Alarm and welcome Eastern Bank to the team. The expanded facility, combined with Mountain’s strong operating performance and thoughtful acquisition strategy, positions the company for continued success.”
“We are proud to partner with Mountain Alarm as it plans for growth in high quality safety and security solutions, and to work with The Edmonds Group and Pacific Western Bank in supporting this family-owned business leader,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank.
About Mountain Alarm
Mountain Alarm/FPS has a long history of service and excellence. Fire Protection Service Corporation (FPS) was founded in 1952. Today, more than a half century later, Mountain Alarm/FPS is still a family owned and operated business providing residential and commercial security and fire protection. For more information about Mountain Alarm, visit www.mountainalarm.com.
About The Edmonds Group, LLC
The Edmonds Group is a specialized investment bank focused on recurring revenue businesses with a particular emphasis on the security alarm industry, the PERS industry and related verticals. The Edmonds Group has closed over 55 transactions representing close to $4 billion in transaction value since its inception in 2004. For more information on The Edmonds Group, visit www.theedmondsgroup.com.
About Pacific Western Bank
Pacific Western Bank is a commercial bank with over $26 billion in assets and 74 full-service branches located throughout California and one branch in Durham, North Carolina. Our National Lending Group provides asset-based, equipment, real estate and security cash flow loans and treasury management services to established middle-market businesses on a national basis. We also offer Community and Venture Banking services. For more information about Pacific Western Bank, visit www.pacwest.com.
About Eastern Bank
Founded in 1818, Eastern Bank is America’s oldest and largest mutual bank with over $11 billion in assets and more than 115 locations in Massachusetts, New Hampshire and Rhode Island. Eastern provides exceptional access to fairly priced banking, investment and insurance products and services for consumers and businesses of all sizes, and is known for its outspoken advocacy and community support that has exceeded more than $140 million in charitable giving since 1999. For more information, visit www.easternbank.com.