10/05/2016
Citizens Bank provides $25 million credit facility to American Alarm and Communications
BOSTON – Citizens Bank announced today that Citizens Commercial Banking’s Security Finance Group is providing a $25 million credit facility to Arlington-based American Alarm and Communications. Citizens is the sole lender.
Founded in 1971, American Alarm is a leading residential and commercial provider of security and life-safety systems across New England. The company is managed by Lou and Wells Sampson, sons of the company founder, Dick Sampson.
A new credit customer of Citizens, American Alarm will use the revolving credit facility for general corporate purposes and acquisitions.
“The Citizens’ Security Finance Group is a class act. Their experience in this industry was a key differentiator,” said Lou Sampson, Chief Financial Officer of American Alarm and Communications. “The Citizens team followed through on promises and worked hard to bring helpful best practice ideas to the table.”
“We are very excited to have American Alarm as a new credit client at Citizens,” said Greg Buscone, Senior Vice President and Market Manager of Specialized Banking at Citizens Commercial Banking. “With a team dedicated to companies in the electronic security industry, Citizens looks forward to working with the American Alarm management team to support their growth and success.”
The Citizens Commercial Banking team leads by putting clients first and offering the solutions that help them make the best decisions throughout the life cycle of their business. Combining the personal attention of a smaller bank with the sophisticated capabilities of a major financial institution, Citizens aims to be a go-to strategic and financial partner by offering unrivaled industry expertise, great ideas and seamless deal execution.
For more information, go to Citizens Commercial Banking.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $145.2 billion in assets as of June 30, 2016. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. In Consumer Banking, Citizens 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 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides wealth management, mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens 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 through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
About American Alarm
Founded in 1971, American Alarm and Communications Inc. is a leading independent security systems integration firm in New England, with over 200 employees serving more than 24,000 residential, commercial and public sector customers. The company owns and operates a 24-hour Security Command Center (Underwriters Laboratories UL Certified Central Station) in Arlington, Massachusetts, solely dedicated to monitoring its customers' security systems. From its offices in Arlington, Auburn and Randolph Mass. (Advanced Signal division), Manchester N.H. and its Electronic Alarms division in Warwick, R.I., American Alarm companies protect all classes of property, from single-family homes to multi-site banks and retail operations, to major public and historic venues. For more information see www.americanalarm.com.
