Jobs and services saved in Secureshield MBO
Shaun Hyland: ‘time timeframe’
A management buyout of fire detection and security firm Secureshield has helped save 51 jobs and life-saving services for vulnerable individuals across Scotland and the North of England.
The Scottish and North of England management team from the Lanarkshire-based firm negotiated the acquisition of the regional business out of administration using brokerage services from Reach Commercial Finance and funding from Aldermore Bank.
The company makes safety services such as alarms, CCTV and emergency lighting for a diverse customer base across the private and public sector.
Clients include Castle Rock Edinvar Housing Association, Scotmid Co-op, Karbon Homes and Northern Housing Consortium.
Police stations, care homes and hospitals are expected to be prime beneficiaries of the MBO.
The deal was backed by a £750,000 invoice finance facility from Aldermore Bank.
Secureshield director Mark Levey, said: “This was a complex deal which needed specific administration experience and to be concluded swiftly.
Reach Commercial Finance is part of the Leonard Curtis Business Solutions Group.
Shaun Hyland from Reach added: “We are very pleased to have delivered a solution in an unbelievably tight timeframe for Secureshield, enabling them provide a stable financial framework within which customers can continue to deliver their vital services at this time, and in the future.”