BURLESON, Texas—Sentry Security Solutions, a business and residential security provider based here, recently secured a multi-million dollar loan commitment with RMR Capital Group.
Sentry Security Solutions’ president Nick McAmis said that although the company has had success self-funding for its first three years in business, the financing from RMR Capital will help to accelerate organic growth, explore the possibility of acquisitions, and attract new talent. The financial terms of the deal were not disclosed.
“Our main goal with this funding is to put the foot on the gas to grow in the residential arena, because right now our business split is probably 65 percent commercial and 35 percent residential, as we have grown organically on the commercial side a lot faster,” McAmis told Security Systems News. “So this arrangement with RMR is going to afford us the ability to accelerate the growth in residential and get more high volume as far as installs are concerned. The lifetime of that residential customer in terms of RMR is very appealing.”
RMR Capital Group is a specialty finance company that delivers equity-building opportunities to dealers across the country. "Sentry Security Solutions has a strong management team with a proven track record of creating and managing high quality service offerings for its customer base. We are excited to support their growth in the North Texas market," Tim Meekin, VP of Sales, said in the announcement.
McAmis said that the additional funding comes at a time when the acquisition market has opened up with many high-quality opportunities. He noted that Sentry Security Solutions has also brought on Abigail King as the company’s marketing manager, and she will be responsible for conceiving and executing marketing strategies and tactics that drive growth and attract new talent.
McAmis said that the funding will help the company, which currently has approximately 400 accounts, to maintain the strong customer service reputation as it accelerates growth.
“We are at $800,000 in sales revenue currently year-to-date, and last year we closed at $380,000,” he said. “We have grown 100 percent year over year since our inception, and that will continue moving forward.”Topic: Commercial and Systems Integrators Tags: Sentry Security Solutions, RMR Capital Group, Nick McAmis