Comerica Bank has announced $25.5 million in credit facilities for LumaSense Technologies, a provider of sensing solutions for the clean technology, medical and energy sectors. The credit facilities include a $10.5 million working capital line and a $15 million term loan.
Vivek Joshi, chief executive officer of LumaSense, said: "The credit lines will be used to increase LumaSense's financial flexibility as the business expands globally. The facilities from Comerica provide LumaSense with additional capital to support our strategy of growing organically and through acquisitions. In particular, we recently completed our acquisitions of Andros and Mikron Infrared, leaders in their respective fields of gas and temperature sensing."
The credit facilities were provided through Comerica's Technology & Life Sciences Division, which has experience in providing innovative debt financing to growth companies with proven technology and strong management teams.