My Alarm Center, which is backed by Norwest Venture Partners, has secured $50 million in financing. Imperial Capital was the placement agent. Based in Newton Square, Pennsylvania, My Alarm Center is a provider of security alarm and home automation solutions for residential households in the U.S.
LOS ANGELES, CA–(Marketwired – Nov 16, 2015) – Imperial Capital announced the successful placement of a $50 million Second Lien Term Loan for My Alarm Center (the “Company”), a portfolio company of Norwest Venture Partners. My Alarm Center is a leading provider of security alarm and home automation solutions for residential households in the U.S. with approximately 185,000 subscribers. The proceeds from the Second Lien Term Loan were utilized to refinance existing mezzanine notes, which reduced interest and extended maturities. In addition, the size of existing First Lien Term Loan was increased by $25 million, which alongside the new Second Lien Term Loan creates a total facility size of $305 million, which will provide significant liquidity for the Company to support its growth efforts.
“Imperial Capital was an exceptional partner to work with during our successful financing efforts. Its contributions to every aspect of the transaction, including structuring and marketing of the Second Lien Term Loan, proved to be instrumental in tremendous lender interest. We are extremely pleased with the outcome of the transaction, which will provide more than sufficient capital to meet our identified growth plan,” said Amy Kothari, Chief Executive Officer of My Alarm Center.
“The strong execution of the Second Lien Term Loan exemplifies the strength of Imperial Capital’s capabilities, as well as investor confidence in My Alarm Center’s compelling value proposition,” said Sonya Brown, General Partner of Norwest Venture Partners.
“This transaction was a perfect example of the combined strength of Imperial Capital’s leadership in investment banking services to the Security Industry coupled with our strong Leveraged Finance capabilities. My Alarm Center is a long-term client relationship for Imperial Capital and we were thrilled to lead the execution of a very well-received Second Lien Term Loan. As a leader in providing a differentiated customer experience to its subscribers and a predictable, stable and sustainable growth engine, My Alarm Center is poised for extraordinary success. We look forward to continuing our support of the Company as it grows,” added John E. Mack III, Executive Vice President and Co-Head of Investment Banking.
About Imperial Capital, LLC
Imperial Capital, founded in 1997, is a full-service investment banking firm with offices in Los Angeles, New York, San Francisco, London, Minneapolis, Boston, Chicago and Houston. The firm currently employs over 250 professionals and offers a wide range of proprietary products and services to institutional investors, middle market companies and private equity firms. Imperial Capital provides institutional clients research and sales and trading of high yield and distressed debt securities, bank debt, convertible bonds, preferred stocks, and equities. The firm provides middle market companies and financial sponsors with capital markets, merger and acquisitions, capital structure, restructuring and recapitalization advisory services. More information about Imperial Capital can be found at www.imperialcapital.com.
About My Alarm Center
My Alarm Center provides the most technologically advanced residential and small commercial security services and home automation technologies to households and businesses across the United States. Its core mission is to provide superior alarm monitoring services to keep customers out of harm’s way. Whether there is an encounter with fire, carbon monoxide, or an unauthorized intrusion, My Alarm Center will be there every step of the way to keep families and businesses safe and sound-. According to the SDM 100, My Alarm Center is the 7th largest residential security provider in the United States and continues to grow its base of customers through its My Alarm Center branches, strategic acquisitions, highly selective independent dealer program and its recently launched self-install smart home security solution, LivSecure at www.livsecure.com. For more information, visit www.myalarmcenter.com.