SmartWater makes acquisition
The SmartWater Group has acquired one of the UK’s largest suppliers of mobile CCTV equipment.
The group, which has a site in Central Park in Telford, has acquired Perimeter Intruder Detection Ltd (PID).
The acquisition was part funded thanks to Santander Bank, which provided £14 million towards the deal.
The purchase will extend SmartWater's product and service offering to its commercial clients, which includes Network Rail, BT and the insurance sector.
Phil Cleary, CEO of SmartWater, said: "This acquisition is totally synergise with our current operational activity, protecting the key assets and infrastructure of our commercials clients and, with our European and USA markets maturing rapidly, the opportunities for our combined technologies are boundless.
"In terms of scope of offering, uniqueness and profitability, this acquisition firmly puts the SmartWater Group into the big league within the security world."
Navin Dabasia, structured finance director at Santander Bank, said: “Both SmartWater and PID have demonstrated a track record of success and growth in their own rights, and the combination of the two business will further enhance the company’s position in the private security market. We are delighted that Santander, which is focused on helping customers to grow, has been able to support SmartWater with this acquisition and we look forward to building a long-term relationship with the company."
PID operates nationally from its offices in Prestwick, Scotland, with clients ranging from Balfour Beatty, BT, Network Rail and SGN, providing them with short to medium term rental of mobile CCTV systems, backed up with a fully ARC accredited 24/7/365 operations room, staffed by former police and military personnel.
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