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- Shell Signs Innovative $10 Billion Revolving Credit Facility
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- TransPerfect Announces New $500 Million Credit Facility
- Ares Commercial Finance has Provided a $45 Million Senior Secured Revolving Line of Credit to Southern States Cooperative, Inc.
Pacific Mercantile Bank Provides $4.0 Million Line of Credit to CRU Data Security Group
February 18, 2021
Source: Yahoo Finance
Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $4.0 million revolving line of credit to CRU Data Security Group (“CDSG”), an end-to-end data storage company. The revolving line of credit provided by Pacific Mercantile Bank is part of a debt infusion into CDSG made alongside Merion Partners, a small business investment company. Veber Partners, a regional investment bank and advisor to CDSG, assisted with the acquisition and corporate reorganization.
CDSG is a leading provider of high-quality data security, transport and storage devices for government and military agencies, small and medium-sized businesses, the entertainment industry, corporate IT departments, data centers and digital forensic investigators. CDSG ensures that sensitive, critical information is highly secure through physical data storage and operates with an unwavering commitment to superior quality, on-time delivery and comprehensive customer service.
“Following our acquisition of Digistor in late 2020, we have significantly expanded our suite of secure data storage solutions and positioned the company for accelerated growth in the rapidly evolving world of trusted and secure data storage,” said Randal Barber, President and CEO of CDSG. “Pacific Mercantile Bank understood how to work collaboratively with Veber Partners and Merion Partners to structure a credit facility that meets our unique needs and provides the flexible financing solution that will enable us to pursue our growth opportunities. We also appreciate the valuable insight that Pacific Mercantile Bank was able to provide through their Horizon Analytics® tool, which complements our internal valuation model and informs the development of our longer-term financial and operational strategies.”
“We appreciate Merion Partners introducing us to CDSG,” said Rob Parks, Senior Vice President and Business Development Officer at Pacific Mercantile Bank. “We are excited about the significant opportunities CDSG has to expand its customer base in the secure data storage market and we look forward to supporting them as they continue to grow in the future.”
About Pacific Mercantile Bank
Pacific Mercantile Bancorp (NASDAQ: PMBC) is the parent holding company of Pacific Mercantile Bank, which opened for business March 1, 1999. The Bank, which is an FDIC insured, California state-chartered bank and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business professionals and individual clients. The Bank is headquartered in Orange County and has seven locations in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. The Bank offers tailored flexible solutions for its clients including an array of loan and deposit products, sophisticated treasury management services, and comprehensive online banking services accessible at www.pmbank.com.
About Horizon Analytics®
Horizon Analytics is Pacific Mercantile Bank’s proprietary financial tool that provides a level of insight and analysis uncommon for middle-market private businesses. Using a proprietary private company database and financial analysis techniques typically available only to large public companies, Horizon Analytics helps businesses understand how their financial performance compares to their competitors and develop a detailed multi-year financial forecast to assist with capital planning and business investment. Through the insight provided by Horizon Analytics, Pacific Mercantile Bank helps its clients navigate challenges, capitalize on opportunities, and look into the future, far beyond a company’s day-to-day activities. Learn more about Horizon Analytics and Pacific Mercantile Bank’s commitment to helping companies succeed at www.pmbank.com/HorizonAnalytics.
Pacific Mercantile Bank Contact:
Sean Foley
Chief Banking Officer
714-277-1495
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