Daily News: February 24, 2015

BofA Leads NorthStar Alarm Facility Increase

NorthStar Alarm Services has increased its credit facility to $80 million, doubling its facility since the company’s recapitalization with Bank of America, Goldman Sachs and The Beekman Group.

Bank of America remains the lead bank on the expanded credit facility and new participants include The Private Bank, Capital Source and Capital One. NorthStar will use the additional financing to support its anticipated growth over the next two years.

“In mid-2014, it became apparent that an increased credit facility would be necessary to support the growth we were experiencing – and it became essential after our acquisition of certain assets from Vision Security,” said Jason Christensen, CEO of NorthStar. “It’s exciting to see the growth of NorthStar and see that we are on track to accomplish the goals we set as a company two years ago.”

NorthStar Alarm is a home security and automation company.