Long-serving director leads MBO at Automatic Alarms
A FAMILY-owned security company has changed hands in a management buyout led by a long-serving director.
Hugh Wilson, who has been with Bolton-based Automatic Alarms for 27 years, has acquired the £1.5m turnover company, following the retirement of its former owners Cliff and Margaret Dickinson.
A six figure funding package to support the MBO has been provided by Royal Bank of Scotland, which includes an invoice discounting facility provided by RBS Invoice Finance and a Government-backed Enterprise Finance Guarantee Scheme loan from RBS.
Based at Kenyon Business Park, Automatic Alarms has been trading since February 1982 and employs 26 staff. It installs and maintains fire and security alarms, CCTV, access control, emergency lighting, nurse call and electrical installations for businesses, NHS Trusts, universities and also private customers.
Mr Wilson said: “As far as our customers are concerned, it is business as usual, and we are committed more than ever to expanding the business further and are currently looking at increasing our engineering staff in our intruder and fire departments.
“We have an excellent team of committed and enthusiastic staff who we wish to develop further with relevant training. We are also upgrading and developing our IT systems to ensure we continue to provide the quality of service our customers have grown to expect.”
Advisers for the deal were Mark Worsley, partner at CLB Coopers accountants and Jonathan Shorrock, partner in KBL Solicitors of Bolton, which provided legal advice to Mr Wilson.
RBS Invoice Finance was represented by Colin Andreassen and Andrew Minors from the RBS banking team.
Mr Wilson’s wife Alison has now joined the company, strengthening the senior team and also bringing expertise in the public sector.
