Alternative lender Prospect Capital Corporation has provided a $25 million loan to Security Alarm Financing Enterprises, a portfolio company of investment firm ICV Partners.
Proceeds will be used to support the continued organic and acquisition-driven growth of SAFE, an alarm company with operations in the US, Puerto Rico and Canada.
Based in San Ramon, California, SAFE ranks among the top 25 largest security alarm companies in the US, according to a statement from Prospect.
“Prospect is a responsive lender that helped to structure a transaction supporting SAFE’s operating objectives, and we are pleased to have Prospect lead another financing for ICV,” Cory Mims, managing director of ICV Partners, said in the statement.
David Moszer, managing director at Prospects, added: “We appreciate the opportunity to work with ICV to provide financing to support the growth of SAFE, a leading, national alarm monitoring company with a powerful base of long standing customer relationships.”
Prospect closed more than $3.1 billion of new loans over 2014 and has more than $7 billion of capital under management.