NTS Receives $65 Million Credit Line

Engineering services provider National Technical Systems Inc. has received a $65 million line of credit that will be used for acquisitions, working capital and general corporate purposes. The money is coming from Comerica Bank, Bank of the West and U.S. Bank. “This provides us with increased flexibility and capacity to fund our strategies for growth, acquisitions and other key programs,” said National Technical CEO William McGinnis. The line of credit includes a $20 million term loan, a $25 million revolving credit line and a $20 million acquisition line. It replaces a former credit facility which consisted of a $16.5 million revolving credit line and approximately $16.3 million in existing outstanding term debt. Mark R. Madler