Tue, 10 Sep 2024 | BUSINESS SALE
A private equity-backed fire, security and electrical compliance services firm based in Newcastle has acquired three North West-based businesses in a move that adds more than £10 million in combined annualised revenue.
ABCA Systems Group has acquired Southport-based access control systems firm Maintec Limited, Blackburn-based electronic security solutions provider AGS Tech Limited and Clitheroe-based security doors and gates manufacturer HBS Fabrication Northwest Limited.
The three deals significantly strengthen ABCA’s market position and presence in the wider social housing market, while providing the group with a platform for future growth.
The group made its first acquisition in 2020 and subsequently secured backing from private equity firm Trimountain Partners and Santander UK PLC in 2021, in a deal that enabled it to target further transactions.
ABCA is led by Chief Executive Phil Miller, who took over the family business from his father in 2005. Since then, the group has grown to generate more than £40 million in annual turnover.
Miller described the acquired business as “three leading companies” that would help the group to “provide an even higher level of service and satisfaction to our clients, especially those in the social housing sector.”
The deal sees Chris King and Colin Prescott return to the ABCA Systems Group, having left several years ago. Since leaving ABCA, Miller said that King and Prescott had organically grown AGS Tech, while in parallel acquiring and growing HBS Fabrication Northwest. The deal also sees Maintec director Steve Cranshaw join the ABCA Systems leadership team, bringing in significant knowledge and experience.
ABCA Chairman and Trimountain Partners partner and co-founder Ali Khanbhai added that the deals represented “a significant milestone bolstering ABCA's position as one of the clear leaders and fastest growing fire, security and electrical service and compliance companies in the UK.”
He continued: "Whilst the Group has more than doubled its revenues organically since our investment three years ago, highly selective strategic, complementary acquisitions like these remain at the core of our wider strategy to drive value and further accelerate ABCA's growth in key areas, with a view to extending our offering, team and reach for the benefit of existing and prospective customers."
Fire, electrical and security are three of the key areas driving M&A activity in the building products and services sector
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