'Optimistic outlook' after MBI at Essex security company

Mon, 04 Dec 2017

A security company based in Essex whose clients include big names like ASDA, House of Fraser and Morrisons has changed hands in a management buy-in.

Cardinal Security has supplied security officers and store detectives since 2003 and also provides keyholding services to the retail and logistics industry.

The new owners are said to have an "optimistic outlook" for the business, after the transaction was completed in under two months.

One of the buyers, Simon Chapman, said: "During the last three months, Inveniam has supported our MBI of Cardinal Security and has expedited the conclusion of the deal in a professional and seamless manner. It has provided timely and experienced advice supporting the implementation throughout and helping to provide a strong financial platform for us to grow the business and develop new opportunities."

The corporate finance director at the Inveniam, added: "The security sector in the UK is challenging but with the experience and capabilities of the incoming team, we are absolutely confident in their ability to take the business forward."

Management buy-ins have become increasingly popular in recent years due to the fact that they allow managers to both invest in a business and takeover its running at the same time. MBIs open up opportunities for advancement and can unlock a company's potential, should all go well.

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