News
Sheffield hi-tech sector boosted with private equity investment
Sheffield-based Camwatch has cemented its position as the UK’s largest commercial CCTV monitoring station with a multi-million pound investment from private equity firm Aberdeen Asset Management.
Strategic Corporate Finance, led by Director Kevan Shaw and assisted by Greg Barker, were lead advisers on the deal which sees founder and Managing Director Phil Bunting buy-out the former directors and bring in a new, highly experienced management team including Geoff White as Chairman and Glyn Abba as Finance Director.
British industry currently spends more than £3bn per annum on manned security, and with costs rising from increased regulation and the minimum wage, many companies are looking for an effective alternative. Camwatch is meeting this need, using technology to provide a surveillance service that never sleeps, looks in multiple directions at the same time, and is immune to coercion or bribery – all at a fraction of the cost of a single guard!
The company uses broadband networks to pipe live CCTV incidents to a state-of-the-art control room located close to Sheffield city centre. The technology enables operators to control pan-tilt-zoom cameras for the clearest possible view, as well as to review recorded video to determine exactly what happened prior to the incident. They are able to warn-off intruders via a public address system connected over the same network, and should the culprits persist, Camwatch has direct links to the local Police response services.
Kevan Shaw said: “Camwatch is a thriving hi-tech business providing specialised security services to a diverse range of companies. It is always rewarding to see a local company competing successfully on the national stage.”
The investment by Aberdeen Asset Management Growth Capital was led by Andrew Ferguson and John Connolly, with Andrew Ferguson joining the board of Camwatch. Mr Ferguson said: “With our investment in Camwatch we have backed a management team which has considerable experience and skill in CCTV monitoring, and which has developed a service that provides a significant advantage over traditional security services and products.”
