Kent based Swift Alarms Group, the long established specialist electronic fire and security systems provider, acquired Croydon based fire alarms specialist Safyre in a buyout led by Castle Corporate Finance and funded by HSBC Bank.
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The transaction enabled the Safyre shareholders, Martin Ginger and Mike Webb to retire as directors, although Martin will remain with the business taking the new role of Safyre’s CEO.
Swift Alarms Group Managing Director, Paul Grist, commented: “The acquisition of Safyre enables us to provide a fully integrated, national fire and security systems service to our many thousands of existing clients; we are delighted with the outcome”. As well as providing service to domestic clients, the group’s portfolio includes many household names such as Aldi Stores, The John Lewis Partnership and Pret a Manger.
Castle’s Michael Norrie added: “This was difficult to structure and complete in the current funding market, but the outcome is a good deal for all parties. HSBC were supportive and the willingness of all to close the deal ensured a satisfactory completion.”
Castle goes international
Castle has joined Integra International, an interactive global association of independent Consulting firms dedicated to advising growing businesses and professionals.
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Michael Norrie said, “This is an exciting development for Castle and enables us to offer our clients a global dimension to their M&A transactions. We are aware that many vendors’ businesses will, for example, find significant interest from potential overseas buyers and controlling the Integra deals database will greatly assist in locating targets both as prospective buyers and as acquisitions. The international tax, accounting and legal support will be invaluable as we conduct more cross border transactions”.
Integra / ABL has a combined membership of some 130 firms in 50 countries.
Castle injects expertise.
Totnes based Inject Plastics (Devon) Limited was the subject of a Management Buy-out by Technical Manager Richard Bromley. Castle initiated the deal and advised Richard throughout.
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Richard said “I am delighted to have completed this transaction and take control of this business, which I have worked for since 2001. With the impact of the financial downturn at a critical point of our negotiations, I did wonder whether the dream would ever come to pass, but Castle’s dogged determination to structure the right deal and the support of Lloyds Bank has been tremendous”.
Castle seeks white knights
Recent bank difficulties, coupled with the desire of investors to find good rates of return whilst interest rates are at a historic low, has prompted us to look for “white knights.”
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We have already introduced a number of good deals to potential investors and are always keen to find new parties.
Castle launches new Fund Finder Service
We are pleased to announce a new service which will enable us to offer businesses a detailed report setting out available funding sources from grants to awards, loans and private equity targeted to their specific needs.
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Colin Harvey said, “With traditional funding sources being so hard to find in today’s economic climate, we hope this service will help our clients to find available funding from a wide variety of sources in the UK
and beyond”.
