Citizens Bank provides $11 million senior credit facility to Center Line Electric, Inc.

Citizens Bank announced today that Citizens Commercial Banking has provided Center Line Electric, Inc. with an $11 million senior credit facility to finance the purchase of a majority stake in the business by new owner Kelvin Squires, a former Ford Motor Co. executive.

The Center Line, Mich.-based firm has more than 60 years of experience in the electric contracting industry and is one of the most recognized electrical contractors in Southeast Michigan.

“Citizens Bank is a great financial and strategic partner. The Citizens team brings smart ideas to every meeting and provides seamless execution,” said Squires. “We look forward to working more with them in the future.”

“Center Line is an excellent client with a strong management team,” said Rick Hampson, Michigan President of Citizens Bank. “Our bankers are very happy to have been able to help them achieve their goals.”