Payment firm sold in private equity-backed MBO

A Leicestershire firm which provides payment hardware, software and managed services to the retail and hospitality industry, has been sold in a management buy-out backed by a private equity firm.

NVM Private Equity, through its NVM Private Equity Vintage III fund, has led the MBO of Secure Retail, which has its head office in Coalville.

James Arrowsmith, Andy Leach and Liam May led the investment for NVM, with Leach and May joining the Secure Board at completion.

Secure Retail’s managing director David Russell said: “Secure Retail is delighted to be partnering with NVM. From our very first meeting it was clear that NVM had the appetite and understanding to add considerable weight to the exciting product strategy being delivered by the Secure Retail team. The next phase of payment security will undoubtedly create the potential for significant growth in software, hardware and support services. Secure Retail supported by NVM is well placed to capitalise on this opportunity.”

James Arrowsmith, investment partner of NVM Private Equity said: “This represents NVM’s second investment in a Midlands-based business in recent weeks, demonstrating our continued commitment to the region and we look forward to supporting more growing Midlands businesses in the future”

Leach said: “We are delighted to be partnering with Carl, David and rest of Secure’s highly experienced management team to take the business forward through the next period of its growth. The payments market is necessarily becoming more complex and specialised given heightened regulatory and security considerations, coupled with increasing demands from consumers for speed and flexibility. The expertise that Secure has built over the past 15-plus years will be of considerable value in such a dynamic market.”

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