Wed, 19 May 2021 | BUSINESS NEWS
Southampton-based fire safety and security compliance firm Churches Fire has received a £75 million refinancing package to enable it to continue its acquisitive growth. Churches Fire's acquisition strategy has been backed by private equity firm Horizon Capital since 2017. Since then, it has acquired 14 companies, growing to serve more than 15,000 UK customers.
The new funding package will give Churches Fire the capacity to proceed with its buy and build strategy. The company, which provides a comprehensive range of fire and security safety and compliance solutions, has a pipeline of new acquisitions lined up for this year and beyond.
The funding was coordinated by HSBC UK with the support of partners HSBC Asset Management, Siemens Bank and Northleaf Capital Partners. Clearwater International acted as advisers to Churches Fire on the deal.
Adam Lewis, non-executive at Churches Fire and Horizon Capital Partner, commented: “The refinancing with support from HSBC and its partners enables Churches Fire to continue on its journey towards becoming the largest independent fire & security compliance services group in the UK.”
“It was a pleasure working with the Clearwater International Debt Advisory team. Their sound market knowledge and management of the refinancing process has secured the right funding package to support our continued investment in Churches Fire.”
Clearwater International Debt Advisory Partner Chris Smith added: “We are delighted to have advised another Horizon Capital portfolio company on a successful refinancing. HSBC UK and their lending partners moved efficiently through our process, putting in place a very flexible and competitively priced structure.”
“Churches now have significant firepower to continue their growth strategy with the backing of both a strong private equity house and highly supportive debt partners.”
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