Stag secures deal with Servest
SECURITY business Stag Security Services has been sold to South African support services group Servest Pty in a multi-million pound deal.
Established in 2002, Harrogate-based Stag provides a range of manned and electronic security systems for major construction, infrastructure and utilities sector contractors and blue-chip corporate clients throughout the UK.
Clients include Balfour Beatty and Carillion and Stag Security is the majority security provider to London’s Crossrail project.
The business, which employs more than 600 staff nationally, recorded a turnover of £15m in 2011.
Servest is a leading multi service provider in the UK facilities sector to businesses in the retail, leisure, public, commercial, transport and logistics sectors.
Key clients include Tesco, Next, Primark, Leicestershire County Council, the Natural History Museum, the Science Museum and the University of Cambridge.
Based in Bury St Edmunds, but with clients nationwide, the business employs more than 9,000 people and has a turnover of £100m.
Servest is 73% owned by Servest South Africa and the remainder is owned by its UK management team.
Clearwater Corporate Finance’s support services team advised the shareholders of Stag Security on the deal and its team comprised partner Paul Jones and assistant director John Clarke.
Graham Watson, chief executive of Stag Security, said: “Joining Servest was a natural move for us because we recognised a company that operates with the same high standards of customer satisfaction and dedication to achieving excellence.
“We have worked hard to achieve a leading position within the security and facilities management industry and believethat working with Servest will enable us to achieve greater market penetration and increase our service offering.”
Mr Jones added: “Stag Security is a high quality service provider that required a suitable partner to assist in the next phase of growth.
“The acquisition will enable the company to invest further into broadening its services and client base across the UK.”
Legal advice was provided to Stag Security on the transaction by partner Paul Johnson and solicitor Laura Lovell at Cobbetts.
Colin Smyth, partner at Baker Tilly, provided corporate tax advice.
