Monday, November 15, 2010
NTS Gets $65M Credit Facility
Calabasas-based National Technical Systems reports today that it has secured a $65M, senior credit facility from the firm, from Comerica Bank, Bank of the West, and U.S. Bank. The provider of engineering services and testing services to the aerospace, defense, telecommunications and other industries said the line will go towards financing acquisitions, as well as for working capital and other general corporate purposes. NTS said the line is split between $20M in a term loan, $25M in revolving credit, and $20M for acquisitions.