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Article: Protection One Beats the Buzzer: Security services company pulls down $110 million in new financing from Bear just prior to bank's collapse.
- Article from:
- Investment Dealers' Digest
- Article date:
- March 24, 2008
- Author:
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It happened just in the nick of time.
Protection One, a portfolio company of Quadrangle Group and Monarch Alternative Capital, closed on $110.3 million in new senior debt financing on March 14 arranged by Bear Stearns, just before the investment bank's collapse and subsequent acquisition by JPMorgan.
The transaction's closing was also music to the ears of investment professionals at Arlon Capital Partners, one of the co-lead investors to the security alarm monitoring services company alongside Boston asset management firm Highfields Capital Management. Lehman Brothers was a co-arranger on the debt package structured with a five-year term. After all, it ...