Fund eyes the potential in 4i Security

A BLACKBURN-based security software firm has attracted an investment from the North West Fund and entrepreneur Nick Owen.

Mr Owen, who has bought and sold several North West businesses, has invested in 4i Security alongside the EV-managed fund which has put in £320,000.

4i was established in 2009 by managing director, Mark Slater, and technical director, Matthew Brough. Mr Owen joins the board as chairman.

The business has developed a single software platform that controls all security and fire prevention devices in a building. It says the system can eradicate false alarms and call-outs.

Mr Slater said: “4i is a very forward- thinking company with regards to automation and security, and we have already created many new markets with our product. In many ways, the security market has remained unchanged for the past two decades, with very little investment into groundbreaking technology.

“I believe we have demonstrated innovation that is light years ahead of any other security company and have produced a product and service that will change the way electronic security is provided. The introduction of investment from the fund, knowledge from the EV investment team and the appointment of Nick Owen will allow us to take 4i to another level.”

Mr Owen bought his first business, print equipment specialist Bindermatics, with backing from 3i in 1995. 3i also backed his acquisition of A Warren & Sons, a supplier to the construction industry, which was sold for £14m to the BSS Group in 2005. He had less success with Greenberg Glass which failed in 2008.

The deal was led by Richard Young of EV. Chester and Manchester-based commercial law firm Aaron & Partners advised the fund on the deal.