Fortus Group Holdings (‘Fortus’), the UK and Ireland’s value added B2B security distributor, has announced the acquisitions of Enterprise Security Distribution and remote CCTV monitoring specialist RE:SURE. These transactions effectively double the size of Fortus to 100m euros in revenue.
Fortus was supported in terms of financing for these transactions by AIB Corporate Banking (Dublin) led by Conor Brogan; and Rockpool Investments (London) led by Guy Ellis.
Fortus was advised by: Eversheds Sutherland led by Tony McGovern (Legals – Corporate & Banking), PKF Francis Clarke led by Sam Phillips (Financial & Tax Due Diligence – Enterprise) & HNH Partners led by Rodney McCaughey (Financial & Tax Due Diligence – Re:Sure)
Enterprise Security Distribution (‘Enterprise’):
Enterprise, founded in 1992, is a UK supplier of security products to installers. The company has nine locations – Sheffield, Birmingham, Kent, Bristol, Manchester, Nottingham, Bedford, Bramley and Norwich – and employs about 90 staff, and has a customer base of 8,000 customers. The leadership team across the nine branches will remain, and will become members of the Fortus Leadership Team.
Fortus describes the business as a great fit in terms of its customer centric culture. Through this acquisition Fortus expands its footprint through full ownership of nine branches, as well as gaining access to new products through their supplier distribution agreements.
Re:Sure Intelligence Ltd:
Re:Sure Intelligence Ltd is a specialist remote CCTV monitoring service serving clients across Ireland and the UK. The company was established in 2007 with the aim of providing a CCTV service that prevents crime rather than just recording it, in a cost-effective manner. It is and will continue to be led by John McMahon (Managing Director) and Emmet Hogan (Commercial Director) who retain a significant stake in the business. The RE:SURE management team will also remain, and the company will continue to conduct business-as-usual with its service and product offerings. The business has the main Alarm Receiving Centre in Cookstown, County Tyrone, Northern Ireland with a smaller office in Sandyford, County Dublin.
The business is fully accredited by the SSAIB, the Republic of Ireland regulator the PSA, and NSAI. The plan with Re:Sure is to endeavour to cross sell this value-add service to customers following the acquisition of Enterprise.
Brian Honan, Founder and CEO of Fortus, said: “Upon completion of both deals, Fortus will advance its strategy of becoming the largest security and fire supply chain business in the UK and Ireland giving us the ability to offer our customers unrivalled support, expertise and monitoring solutions. With our supplier offering, branch network, CCTV expertise combined with RE:SURE’s best in breed monitoring solution, our end-to-end offering will be a first within the security market. We are delighted to welcome the outstanding Enterprise and RE:SURE teams to Fortus Group.”
Mark Brophy, CFO at Fortus said: “These transactions represent a pivotal moment in the evolution of Fortus into the most cutting edge and forward thinking business in the security supply chain sector. We are proud to enjoy the continued support of Rockpool Investments and AIB Corporate Banking to allow us execute our buy & build strategy across the UK and Ireland.”
And Mark Massie, Commercial Director UK, pictured, said: “The acquisition of ESD and RE:SURE is significant news within the security and fire industry. It provides Fortus with a branch foothold across England and opens channels for us to supply our customers with additional industry leading brands, including Fire as well as offering additional services to our customers. I’m delighted to welcome the ESD and RE:SURE team to Fortus Group.”