Newtown Square’s My Alarm Center has secured an additional $10 million in funding allowing, which will help the residential security and home automation provider spur its growth both organically and through making acquisitions, writes Paul Ragusa for Security Systems News.

The funding was led by Ironwood Capital and supported by Alcentra, Saratoga Investment Corporation, NXT Capital, and OFS Capital. The $10 million is an increase to its existing $50 million, second-lien term loan, and will repay a portion of the company’s first-lien debt and fund further growth.

Amy Kothari, president and CEO of My Alarm Center, told Security Systems News that the funds are arriving at a time when the acquisition market has offered up a number of high-quality opportunities. She also noted that it will help boost the outstanding organic growth the company is achieving from its nine branch and satellite locations.

“In this industry, you need to be able to respond quickly to these opportunities, so having the additional debt financing gives us the capability to respond quickly to the market as it shifts,” she said.

Read more about the company in Security Systems News by clicking here.