Garden City, New York (PRWEB) December 19, 2011
World Wide Security announced today that CapitalSource Bank, a commercial lender and a wholly owned subsidiary of CapitalSource Inc., , has increased the revolving line of credit for World Wide Security from $5 million to $8 million. “The increase in the revolving line of credit will help us fund acquisitions. We will be announcing two acquisitions by the end of this year and are in negotiations with four more planned for the first half of 2012,” explained Ken Mara, President and CEO of the Garden City-based company.
Mark Simson, CFO for World Wide Security led the financing for the extension. “The relationship with CapitalSource has been a critical component in facilitating past and present growth of the company. We really appreciate the level in which they understand the business and for the continued support,” stated Simson. World Wide Security is known for its ability to provide security solutions through integrated products. Part of the company’s strategy for growth includes penetrating new and existing security markets with enhanced product offerings and influencing purchasing trends through aggressive pricing structures for customers. “We closed this year having had our best year ever. The company also had internal growth in all departments and we anticipate a banner year in 2012 delivering quality security solutions and technology to our clients,” Mara stated.
About World Wide Security: Partners in business since 1979, Kenneth Mara, President and Joe Ingegno, Vice President, have owned and operated security companies on Long Island, which serve the tri-state area. The World Wide family of companies: World Wide Security, GC Alarm, Telestat Security, Vision Monitoring and Rainbow Protection. The company provides residential and commercial alarm, CCTV, access control and home automation systems. World Wide operates its own UL-listed; New York City Fire approved central station through Vision Monitoring.