German group acquires Lancashire fire safety firm
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Lancashire fire detection and security technology specialist, Protec Fire and Security Group, has been acquired by Bosch Building Technologies, for an undisclosed sum.
Protec is headquartered in Nelson, and employs around 1,100 employees at its nine sites across the UK and the Netherlands with a turnover of £125m.
Bosch Building Technologies currently has the focus of its European system integrator business in Germany and the Netherlands and is also active as a system integrator in the USA and Asia.
The transaction combines two complementary businesses and offers both companies the opportunity to expand into different markets and strengthen its presence within the global fire safety and security sector.
The transaction was led by RSM UK’s corporate finance partner, John Daly, with support from Kirsty Sandwell, Helen Gibson and Becky Mist. Richard Robinson, David Carr and Charlotte Walsh from Napthens provided legal advice on the deal.
Barrie Russell, founder and chairman of Protec Fire and Security Group, said: ‘With Bosch, we found a great partner who values our history, brand and our extraordinary team. I believe this cooperation will open up great opportunities for our company as well as our employees and lead into a successful future.”
John Daly said: “The complex deal adds scale and reach to accelerate growth and allows the combined business to target new markets and enhance its overall offering to new and existing clients.”
Kirsty Sandwell, corporate finance partner at RSM UK, said: “Drawing on expertise across different aspects of our pan European team allowed us to secure this pivotal deal for an ambitious client, which is great to see.”
Richard Robinson, corporate partner at Napthens, said: “Protec is a real North West success story and this transaction will allow both Bosch and Protec to expand into key markets globally.
“We have enjoyed working with RSM, Barrie and his team, in concluding the transaction and are proud to have been able to help a flagship North West business on a such a complex and high profile transaction.”