Capital One Bank 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, a leading electronic security monitoring services provider in the U.S. Headquartered in Bend, OR, the company provides electronic security alarm installation, monitoring and maintenance services to over 11,000 residential and over 5,000 commercial customers in Arizona, California, Hawaii and Oregon. Vyanet’s home security systems include fire alarm and intruder alert capabilities, and its business security systems include access control and video surveillance. The line of credit will be used to fund the company’s working capital needs in support of its growth strategy and for acquisitions. As part of this transaction, Vyanet also established treasury management and commercial card systems with Capital One Bank.
“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 10 U.S. bank as we serve more security companies in 2013.”
The Capital One Bank Security team partners with security service providers by offering revolving lines of credit, term loans and other banking solutions to fund business needs and opportunities.