Capital One provides $10M revolving line of credit to Kentucky and Florida alarm company

Bethesda, Md. (October 31, 2017) – Capital One announced today that it provided a five-year, $10 million senior revolving line of credit to Bates Security and Sonitrol of Lexington, a family-owned business headquartered in Lexington, Kentucky. John Robuck, Managing Director of the Security Finance lending practice originated the transaction. The company also chose Capital One as its primary depository bank and commercial card provider.

“We decided to strengthen our relationship with Capital One because of its longstanding support for the security business,” said Jeremy Bates, the company’s President. “We have turned to John and his team many times over the years for their perspective, and we are looking forward to tapping their insight even more in the future as we continue to grow our business.”

Bates Security has delivered electronic security, fire, access, video and locksmith services to a variety of governmental, commercial and residential customers for more than 33 years. It recently branched out from its Kentucky base by opening a sales, service and installation office in Jacksonville, Florida. “Bates Security has a dynamic business model,” Robuck said. “This new capital puts the company on a trajectory for further growth.” Bates Security intends to continue to use the facility to fund organic expansion in the Jacksonville area, and take advantage of acquisition opportunities in both Kentucky and Florida.

“We see the credit facility as opening a variety of different opportunities for us,” said Bryan Bates, the company’s Vice-President and Manager of its Florida office. “When used strategically, we believe it can help us fully realize the potential of the company our Mom and Dad worked so hard to create.”

Capital One’s Security Finance team provides flexible financing solutions to security companies that need working capital, organic creation cost financing, and/or acquisition support.