02/04/2015
Citizens Bank leads $150 million credit facility for SAFE Security
SAN RAMON, CA – Citizens Bank announced today that it is providing a $150 million senior secured credit facility for San Ramon, Calif.-based SAFE Security.
“I was impressed by how quickly and effectively the Citizens Commercial Banking team completed this transaction,” said Paul Sargenti, president and CEO of SAFE Security. “The funds will be used to execute our long-term growth strategy and help us stay on track with strategic acquisitions and geographic expansion.”
Sargenti, who founded the company in 1988, said the credit facility also gives SAFE Security the financial flexibility to provide the finest security services and monitoring to our customers nationwide.
Citizens led the six-bank syndicate, serving as Lead Left Arranger and Administrative Agent.
“SAFE Security has a great business and we’re excited to be able to offer our expertise in security alarm industry financing along with our capital markets capabilities to help them achieve their strategic and financial goals,” said Greg Buscone, senior vice president and Market Manager of Specialized Banking at Citizens Commercial Banking.
SAFE Security designs and develops security-alarm systems for residential and commercial customers in the United States, Puerto Rico and Canada. ICV Partners has been SAFE’s private equity sponsor since December 2012.
Citizens Commercial Banking last year was ranked eighth overall middle market bookrunner by number of deals and sixth for sponsored deals, according to the Thomson Reuters league tables. For more information about Citizens Commercial Banking, go to citizensbank.com/commercial.
About Citizens Financial Group, Inc.
Citizens Financial Group Inc. (NYSE: CFG) is one of the nation’s oldest and largest financial institutions, with $132.9 billion in assets as of December 31, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance. Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
