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DEALMAKERS
IN ASSOCIATION WITH:
A GROWING TREND
By Ged Henderson
Lancashire continues to be prime territory for companies looking to grow their operations through buy to build acquisitions.
A flurry of deals in recent weeks has seen businesses in a range of sectors become part of larger operations with strong expansion ambitions.
They include Haslingden-based Secure Empty Property (SEP), which was acquired by The Clearway Group, which is based in London and also operates in France.
The October sale, for an undisclosed sum, saw the exit of Mercia Ventures and its client fund, the North West Fund for Venture Capital, which backed SEP at its inception in 2012.
SEP offers a 24-hour security and management service for vacant sites and property, covering everything from installing metal security shutters and alarms to manned guarding and site clearance.
As well as its Lancashire base it has operation in Northampton and Reading and serves clients throughout the UK including landlords, property agents, pubs, retailers and insolvency practitioners.
The deal will secure the jobs of its 25-strong team and enable founder and chief executive Simon Broadbent to realise his investment in the business, though he will continue to work with the operation on a consultancy basis.
He said: “Having spent over 10 years building a successful business, finding the right partner to ensure we continue our success was important and we have found that in Clearway.
“SEP and Clearway are a good fit, and this move will be beneficial not only to the staff but also our combined customer base.”
Mercia invested more than £1m in total from
the North West Fund for Venture Capital in SEP in three separate funding rounds, and has achieved a “significant return” on investment.
Clearway is a leading commercial security services provider specialising in protecting people, property and assets employing more than 350 people. It currently has operations across the UK and France.
Peter Eglinton, Clearway’s executive chairman, explained how the acquisition fitted in with its growth strategy.
He said: “It offers us the perfect solution to expand our geographical reach and capabilities within the vacant property security side of our business.
“It will enable us to provide more support and solutions to our existing customers and expand our customer base and continue to ensure a high-level of service. We look forward to this acquisition supporting our strategy for growth.”
Will Clark, managing director of Mercia Ventures, said: “Secure Empty Property has established a strong track record since its launch just over ten years ago. The deal will open up new opportunities for its growth as part of a wider group, while enabling Clearway to expand its footprint in the North of England.”
The flurry of recent bolt-on activity has also seen Blackpool-based financial adviser Opus Wealth Management become part of a large national group in a deal which could be worth as much as £1.4m.
Southport-based Ludlow Wealth Management Group, a subsidiary of Leicester headquartered Mattioli Woods, has acquired the firm’s entire share capital for £710,000, which could increase by a further £710,000 if performance targets are reached over the next year.
Opus provides financial planning and wealth management services to more than 100 private client families with around £53m of assets under advice.
Michael Wright, deputy chief executive of Mattioli Woods, said: “We’re delighted to welcome Opus Wealth Management to the Mattioli Woods Group, as part of the Ludlow business.
“We’ve highlighted we have a strong pipeline of bolt-on acquisition opportunities that can help us accelerate and complement our organic growth. This transaction marks another step towards our strategic goals.”
And Ian Hemingway, chief executive officer of Ludlow, added: “Opus is a business we know well. I expect our familiarity with the Opus team and our shared approach to looking after clients to facilitate a smooth integration over the next few months.
“This acquisition further strengthens our operations in the North West as we look to build upon our existing presence in the area.”
Meanwhile, a Burscough based independent distributor of catering equipment has been acquired by a ‘growth-hungry’ company in a multi-million pound deal.
The Kitchen Equipment Company, which trades as Kitchequip, was established in 1993 and has grown to become one of the UK’s largest independent national commercial catering equipment distributors.
It offers bespoke design and fitting and its client base spans many sectors, including restaurants, hotels, schools, hospitals, universities, football stadia, colleges, cafes, care homes and garden centres.
Some of its most well-known clients include a number of Premier League clubs, the NHS
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