Becklar, the holding company for AvantGuard and Freeus, is expanding in a big way, recently closing on a new, $25 million debt facility with Pacific Western Bank. Financial adviser and long-time partner, The Edmonds Group assisted Becklar executives with the decision.
Looking Ahead
Beklar CEO, Josh Garner, is enthusiastic about the new credit and the opportunity it brings for the company.
“The new debt facility will be used to support continued growth and acquisitions at both AvantGuard and Freeus,” he states. “While we greatly appreciated the strong interest we received from the banking community in this process, we felt that Pacific Western Bank offered the best combination of pricing and flexibility. We look forward to continuing our relationship with them.”
With the expansion of AvantGuard and the recently announced third central station that is underway, this new debt facility will definitely go a long way in supporting each of Becklar's rapidly growing businesses.
Partnering With the Edmond’s Group
The Edmond’s Group is an investment bank that specializes in the security alarm industry and recurring revenue businesses. Becklar has been a partner with the Edmond’s Group for quite a few years, and Avantguard recently hosted a webinar with Henry Edmonds, the company's president. Through the years, the two companies have fostered a great relationship with one another.
“Henry Edmonds and his team ran a very effective process for us, ensuring that we identified the best partner and the most attractive terms,” says Garner. “Their effort on our behalf exceeded our expectations.”
Will Schmidt, managing director of Pacific Western Bank’s security lending group is optimistic about this new endeavor, and praises both AvantGuard and Freeus.
“We are honored to be extending our relationship with Josh and his team. AvantGuard and Freeus are two of the best run organizations in the industry and we look forward to many more years of partnership,” states Schmidt.
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