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News

Finance Wales Backed Acquisition of 1001 Fire and Security

SGD Security Group : 29 June, 2010  (Company News)
Welsh fire and security company acquired by SGD Security, strengthening the company's presence in fire and alarm systems as well as CCTV surveillance
Finance Wales Backed Acquisition of 1001 Fire and Security
SGD Security has its sights set firmly on UK expansion following the acquisition of Bedwas-based 1001 Fire and Security backed by an undisclosed debt investment from Finance Wales.

The acquisition, which boosts SGD Security's annual turnover by around 20%, will enable the business to expand its existing product range and increase its market share of the commercial new build sector for fire alarm, access control and CCTV systems. The deal also strengthens the company's existing team of skilled engineers.

SGD Security currently provides specialist electronic security services to a number of UK businesses, schools, hospitals, local authorities and public sector organisations as well as domestic clients and properties.

The acquisition of 1001 Fire and Security Ltd is SGD Security's fifth acquisition in the past six years.

Nick Larcombe, Investment Executive at Finance Wales, said: "SGD Security is a well-established specialist provider of security products and services with a healthy appetite for expansion across the UK. Finance Wales' debt investment will enable SGD to realise its growth ambitions by implementing its expansion strategy and targeting new markets. It demonstrates our commitment to investing in growth businesses that are developing new ideas and exploiting commercial opportunities."

SGD Security currently employs over 40 people and was founded by electrician and security engineer, Jeffrey Witts, in 1988 and is now managed by an experienced team led by Chief Executive David Witts-Price, Finance Director Nicola Alexander and Operations Director Lisa Duprey.

Witts said: "SGD has a clear expansion strategy and the acquisition of 1001 Fire and Security brings us closer to this goal. The investment by Finance Wales enables us to expand into the commercial new build sector, with an increased product range, and an increased team of experienced engineers.

"As one of the largest independent security companies in Wales, our focus on customer service remains the key to our growth. Our systems maximise the use of mobile technology to ensure our engineers are efficient and effective, thus streamlining the process for all of our customers."

The SGD Group which consists of SGD Security and ADC Fire Systems are NICEIC, NSI Gold Security, NSI/BAFE Gold and ISO9002 1994 accredited. The Group has also been accredited by Constructionline, SAFEcontractor and CHAS - the three main accreditation schemes assessing the health and safety competency of contractors and service providers.

Advisors on the deal were HSJ Accountants (financial) and Lloyd and Rowe Solicitors (legal).

Kim Jackson, Director from HSJ Accountants, said: "This acquisition increases SGD Security's customer base substantially and we are delighted that HSJ has been able to help the company secure both the funding and meet its targets. We will continue to advise the company on its new structure, helping SGD Security's management team implement improved management information systems to track its continued performance."
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