Lydia receives $75 million


01/27/2016

Spencer Ives

WILLIAMSTOWN, N.J.—Lydia Security Monitoring, the parent company of COPS Monitoring, received a $75 million dollar credit facility from Citizens Bank, the bank announced Jan. 25.

“Lydia plans to use this line of credit for general corporate purposes and to expand its presence in the market,” David Smith, COPS’ director of marketing and communications, told Security Systems News, in an email interview.

Citizens served as lead left arranger and administrative agent for the transaction.

Jim McMullen, COPS president & COO, told SSN in an email interview, “We are extremely pleased with our relationship with Citizens.  Not only are they a premier bank and a wonderful partner that has supported our growth, they clearly understand the nuances of our industry. We look forward to many more successful years of doing business together.”

Security Systems News is awaiting an interview with Greg Buscone, SVP and market manager of specialized banking at Citizens Commercial Banking.

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