Webster Bank Closes $34M Senior Financing for The Metro Group, Inc.

Webster Bank is pleased to announce that it has increased its senior secured credit facilities to $34 million in support of The Metro Group Inc.’s (Metro Group) acquisition of Response Electric (Response). The acquisition of Response further cements Metro Group as the best-in-class provider of water treatment, HVAC mechanical contracting, and electrical services to more than 20,000 residential and commercial building owners throughout metropolitan New York and across New England and Mid-Atlantic markets.

Proceeds of the senior financing were used to support the acquisition of Response; Webster Bank also provided an amendment and extension to Metro’s existing credit facilities through a flexible five-year non-recourse cash flow loan structure. The Response acquisition represents Metro Group’s fourth add-on acquisition in the past five years that has been financed by Webster Bank.

“We greatly value our partnership with Webster Bank. They understand Metro Group’s business objectives and have consistently delivered creative financing solutions to support our growth strategy. Through our partnership, Metro Group has been able to broaden our service offerings to become a ’one-stop shop’ for premier electrical, water, and mechanical contracting services, and are now uniquely positioned as a leader in the emerging retrofit market to address greenhouse gas emissions as well as other growth sectors,” said Richard Parker, Metro Group Inc.’s Chief Executive Officer.

“We are once again pleased to partner with Metro Group on this important transaction that will continue to fuel their growth,” said Abby Parsonnet, New York Regional President, Webster Bank, adding, “This transaction further demonstrates our commitment to providing innovative financing solutions that enable core Middle Market clients like Metro Group to expand services, grow revenue and achieve scale through strategic acquisitions.”

About Webster

Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $32.6 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 155 banking centers and 297 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

 Media Contact:                                                                                                              

Elaine K. Ficarra, 203-913-2716                                                                                                         eficarra@websterbank.com