Inveniam Corporate Finance have advised an incoming management team on the acquisition of Cardinal Security Ltd. Incorporated in 2003, Cardinal are a leading supplier of permanent and ad-hoc Security Officers, Store Detectives as well as providing Keyholding services to the retail and logistics industry. Supported through its 24/7 Intelligence Centre Cardinal work with many leading brands, including; Arcadia, Asda, Parcelnet, House of Fraser, Morrisons, Pets at Home and UK Mail. An approved ACS Contractor through the SIA, Cardinal are placed within the top 5% of all security providers in the UK.
The transaction was closed in a timescale of under two months and was brought together by Lee Humble and Ian Morl. Through a syndication of three lenders the business has been delivered to an experienced team of industry heavyweights who share an optimistic outlook for the business. As a retained adviser to the business Inveniam will play a key role in the implementation of an all encompassing growth strategy.
Lee Humble, Corporate Finance Director at Inveniam added “this was a fantastic transaction to be a part of and we are sincerely thrilled to have assisted Michael Goddard, Brian Morris and Simon Chapman in their acquisition of the business. The security sector in the UK is a challenging sector but with the experience and capabilities of the incoming team we are absolutely confident in their ability to take the business forward. Cardinal benefits from a superb client base and we look forward to working with them going forward.”
Simon Chapman, C.E.O. of Cardinal commented “During the last three months Inveniam have supported our MBI of Cardinal Security Ltd and have expedited the conclusion of the deal in a professional and seamless manner. They have provided timely and experienced advice supporting the implementation throughout and helping to provide a strong financial platform for us to grow the business and develop new opportunities”
As part of the transaction Inveniam were able to secure specialised debt facilities alongside significant ten figure packages from ABN Amro and Barclays. Legal representation was provided by CMS LLP.