Tue, 29 Sep 2020 | BUSINESS SALE
Safety and security systems firm Onwatch Multifire has been acquired in a pre-pack administration deal. OM Realisations 2020 Ltd, which trades as Onwatch Multifire, appointed FRP Advisory on September 7. On appointment, the joint administrators immediately sold the company’s two trading divisions, Onwatch and Multifire, with all employees transferred.
The security division was acquired by company directors Peter Gould and Chris Cunningham and will continue to trade under the Onwatch (UK) brand from its sites in Sunderland and East Sussex. Onwatch will continue to employ 38 staff.
Fire services division Multifire, meanwhile, was acquired by Churches Fire Security Ltd. This division will continue to operate from its UK-wide office network, with 20 staff members transferring.
Onwatch Managing Director Peter Gould said: "It has been a challenging six months but we are pleased to have completed our MBO. The retention of our security employees and longstanding customers to maintain a stable workplace and continue to provide a high-quality service was uppermost in our plans going forward."
FRP partner and joint administrator Tony Wright said: "These concurrent transactions provide a sustainable future and platform to grow for both Onwatch UK and the team at Multifire Maintenance Services – two businesses that provide critical services.”
"Even amidst the ongoing economic challenges and disruption, the deals show that quality businesses can still attract investment. We wish Onwatch all the best as an independent business, and Multifire Maintenance services as part of a major UK fire services group."
In its most recent available accounts, for the nine months ending December 31 2018, OM Realisations 2020 Ltd recorded total sales of £4.4 million, but registered a total loss for the period of £1.3 million. At the time, the company’s total assets were valued at close to £2.2 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
North East Leading Specialist & Installer of all kinds of Driveways, Patios, Pathways & Steps. Currently based in the Consett of Durham, with home base premises which is relocatable if required.
RELOCATABLE
A well-established specialist in the supply, erection and dismantling of scaffolding solutions, in operation circa 10 years.
LEASEHOLD
A reputable service provider operating over a span of nearly three decades. Offers a comprehensive range of site support services, including grounds maintenance and landscaping, site clearance, forestry, fencing and access mat hire, as well as geotec...
FREEHOLD
|
11
|
|
Jun
|
BigBlu completes Quickline disposal | BUSINESS SALE
Bicester-based rural broadband provider BigBlu Broadband has...
|
11
|
|
Jun
|
Menzies Distribution continues growth with JBT acquisition | BUSINESS SALE
Menzies Distribution, which is backed by private equity firm...
|
10
|
|
Jun
|
Occupational health firm acquired at 6.6x multiple | BUSINESS SALE
Marlowe has acquired occupational health services firm Healt...
Sign up to receive our acquisition alert emails to get your FREE guide
|
17
|
|
May
|
Leicestershire construction firm falls into administration | ADMINISTRATION
Leicestershire construction firm Paul John Construction has ...
|
13
|
|
May
|
Assets up for sale as Scottish grain merchant falls into administration | ADMINISTRATION
East Lothian-based grain merchant Alexander Inglis & Son has...
|
25
|
|
Jan
|
Boohoo acquires Debenhams brand in £55m deal | BUSINESS SALE
Online retailer Boohoo has acquired the Debenhams brand in a...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources