Daily News: February 21, 2013

Capital One Elevates Security Industry Lending Activity

Capital One said it has increased its lending activity in the U.S. security industry in the second half of 2012 as the Bank’s Commercial and Specialty Finance Security team closed six transactions, representing in excess of $100 million in commitments.

The closed deals, ranging from $5 million to $25 million each, involve companies in a variety of industry sub-sectors, including fire, burglar and home security systems, command and control systems, disaster response and recovery, IT security, homeland security and video surveillance.

One example of the six transactions is a three-year, $20 million revolving line of credit to Vyanet Security, an electronic security monitoring services provider in the U.S. The line of credit will be used to fund the company’s working capital needs in support of its growth strategy and for acquisitions. Vyanet also established treasury management and commercial card systems with Capital One.

“The Capital One Bank Security team provided invaluable support to arm us with the capital we need to grow our business,” said Tracy Jones, President, Vyanet. “The team’s specialized industry expertise, hands-on approach, and range of resources, made it a great partner for this transaction and in the long-term.”

“The Vyanet management team demonstrated a thoughtful market strategy that makes it a great partner for Capital One Bank,” said John Robuck, senior director, Commercial and Specialty Finance, Capital One Bank. “Our work with Vyanet reflects the momentum we’ve built since Capital One Bank’s Security team entered the market about a year ago, and we’ll continue to provide this specialized industry knowledge along with the resources of a top-ten U.S. bank as we serve more security companies in 2013.”