Fri, 05 Apr 2024 | BUSINESS SALE
New Path Fire and Security, a buy-and-build platform operating in the fire and security sector, has secured a follow-on investment to support a pair of acquisitions. The business has acquired Electrifire Ltd and VGI Management Ltd, which both provide fire and security installation and maintenance services for commercial customers across London and the South of England.
The acquisitions are supported by a follow-on investment of £3.85 million from Duke Capital, a provider of hybrid capital for SME businesses. Following the latest investment, Duke’s total investment in New Path stands at £10.75 million.
Overall, Duke Capital has supported New Path in making five acquisitions and the company now encompasses 12 subsidiaries. The latest acquisitions have given New Path Fire Group a substantial presence across London and the South of England, with the company having an employee headcount of more than 110 and serving a customer base in excess of 6,300.
Electrifire Limited, which is based in Rochester, provides installation and maintenance services, with a focus on intruder alarms, fire alarms, access control and CCTV systems for commercial and office customers, predominantly across central London and Kent.
VGI, which was founded in 2003 and operates from a commercial premises in Byfleet, provides installation and maintenance services focusing on security (CCTV, access control, alarms and perimeter security), fire safety (fire alarm systems and automatic smoke opening vents) and electrical (lighting, heating and power). The firm focuses on servicing the property management sector across South West London and Surrey.
Commenting on the platform’s latest acquisition, Duke Capital Chief Executive Neil Johnson said: "We are excited to once again be supporting New Path via the acquisition of two new targets which are complementary to its existing portfolio.”
"The two acquisitions will add further scale to New Path’s platform and create additional efficiency in the provision of services to its client-base in London and the South of England.”
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