Citizens Bank provides $15 million senior credit facility to Dynamark Monitoring, Inc.
HAGERSTOWN, MD September 19, 2016 – Citizens Bank announced today that Citizens Commercial Banking has provided a new $15 million senior credit facility to Dynamark Monitoring, Inc., a Hagerstown, MD-based provider of wholesale monitoring services to security alarm dealers and alarm services to retail and commercial customers.
Dynamark will use the credit facility to refinance existing debt, fund growth both organically and through acquisitions, and for general corporate purposes. Dynamark recently moved its monitoring center to a larger facility and this credit facility will provide ample financial resources for continued acquisitions and investments in emerging technologies. SPP Advisors, LLC represented Dynamark in the transaction.
“It was a pleasure working with the Citizens Bank team and their experience in this industry was a key differentiator,” said Trey Alter, CEO and President of Dynamark Monitoring, Inc. “Citizens’ expertise set the tone for the whole transaction – from the smart ideas the team brought to meetings to the great deal execution.”
“We are excited to have Dynamark as a new client at Citizens Bank,” said Greg Buscone, Senior Vice President and Market Manager of Specialized Banking at Citizens Commercial Banking. “We look forward to working with the Dynamark team to support their growth and success.”
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.
SOURCE: Citizens Financial Group, Inc.