Security specialist changes hands in £2m MBO deal

A management buyout (MBO) of Warrington-based Marpol Security has been agreed with managing director Liam Doherty and commercial director Jordan Mornington purchasing the business from the previous ownership.

The deal was valued at around £2m.

Marpol has posted turnover of approximately £4m over the previous financial years and currently employs more than 150 staff.

Established in 1992, Marpol Security is one of the largest security companies in both Liverpool and Manchester, providing an extensive range of security services to clients right across the North West.

It offers tailored security solutions including manned guarding, static security, mobile patrols, 24-hour CCTV with remote monitoring, risk assessment reports, alarm response, key holding, opening and locking of premises, void properties and fire marshals.

Managing director Liam Doherty said: “It’s a tremendously exciting time for both the business and the security sector.

“As new owners, Jordan and I have extensive plans to build on the existing stable foundations already in place at Marpol.”

He added: “We would like to extend our thanks to the previous owners for their professionalism and diligence throughout the acquisition process.”

Commercial director Jordan Mornington added: “Marpol has developed a reputation for providing high quality and reliable security services, both for commercial and residential properties.

“Our aim now is to develop the existing offering, by complementing manpower with the very latest in security technology solutions.”

The Manchester office of Gateley Legal advised on the corporate aspects of the MBO. Associate Michael Murphy said: “We’re delighted to have worked with the management team in this transaction which represents the next phase of growth for a company who are a leader both regionally and nationally in their sector.

“Gateley Legal has a strong tradition of working with ambitious, entrepreneurial businesses to support their growth plans and we’re pleased to have played our part in supporting the management team at this exciting phase of their development.”

Secure Trust Bank Commercial Finance is the fifth largest independent operator in the asset-based lending market, and supported the MBO.

The firm, which provides a full suite of flexible asset-based lending and invoice finance products to small and medium sized enterprises, lent a milestone total of £194.7m across the country over the course of the 2018 financial year.

Alex MacDonald, portfolio and structuring director at Secure Trust Bank, said: “This management buyout will enable Marpol to embark on the next stage of its growth strategy, cementing its position as an industry leader in the security services sector.

“Having worked closely with the management team for the past four years, we understand the everyday challenges and cash-flow needs of the business and were able to offer a flexible proposition that has supported the MBO.

“Our funding will go a long way in supporting Marpol to invest in the latest in security technology solutions, to continue offering its wide-ranging customer base with the best service possible.

“We look forward to seeing the company’s success and expansion in the coming months.”

Adrian Rogers, partner at Knights in Manchester also assisted the MBO.

The new ownership is effective as of August 2019.