Private equity-backed property, site and people protection specialist Orbis Protect has made its first acquisition following a strong period of growth despite the UK-wide lockdown.
The deal will see Orbis Protect acquire Glasgow-based Optosafe, a rapidly deployed 360-degree CCTV tower provider with which it has partnered for three years.
The deal follows NorthEdge’s initial backing in 2018 and two years of strong organic growth for Orbis Protect, which has achieved consistent year-on-year organic EBITDA growth in excess of 20 per cent since 2016. Earlier this year the business ranked eighth in the Sunday Times’ Profit Track and following the acquisition it is expecting to achieve in excess of £8 million EBITDA in the next financial year.
The business employs more than 400 staff across 19 UK depots, working with clients across the private and public sectors. Its services include vacant property management – deep-cleaning, repairing and securing vacant properties ready for reoccupation, as well as site security for commercial offices, construction and other vulnerable sites through its monitoring services. It also offers a lone worker monitoring solution, supporting 35,000 workers annually with personalised alarm services.
During lockdown, Orbis Protect has seen rapid growth in its decontamination services. In March it had six team members trained to deliver the environmentally friendly specialist cleaning service, which includes fogging technology to remove traces of Covid-19, with another 60 being trained throughout lockdown to meet customer demand.
Guy Other, Orbis Protect chief executive, said: “During lockdown we have been able to adapt quickly to support clients. This approach to spotting new opportunities for our business has been key to us continuing to report strong organic growth. NorthEdge has been supportive of our ambitions since backing the business, and their support with our first acquisition has been invaluable.
“Over the last few years, we have developed a strong partnership with Optosafe on a range of client projects, the specialist insight the team can provide makes this deal a key part of our ongoing strategy and will help us to further accelerate our growth.”
The acquisition was funded in part by financing provided by Clydesdale Yorkshire Bank. Orbis was supported in the acquisition by Deloitte (Corporate Finance), Browne Jacobson (Legal), BDO (Financial Due Diligence), Fairgrove Partners (Commercial Due Diligence) and Better Basics (Operational Due Diligence).
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