RSM has advised on the sale of Cerberus Security and Monitoring Services Limited, an established provider of security systems and monitoring solutions, to The Clearway Group Limited, a leading void property services business.
Established in 2000, Bradford-based Cerberus provides both physical security, including manned guards and mobile patrols, and technology-driven remote monitoring services to business throughout the UK.
Clearway provides technology-led solutions such as alarms, CCTV and remote monitoring for managing vacant properties, as well as steel securing of windows and doors. It has recently received a £23m funding package from BGF and Santander to support its organic and acquisitive growth strategy. The Dartford-headquartered company has used the funding to make two acquisitions – Cerberus, and Protim, a void property services company, in Paris.
The transaction combines three complementary businesses and strengthens Cerberus’ service offering; geographical reach; and position as a national leader in the security industry. In addition, Steve Hardcastle will remain as managing director of Cerberus.
RSM’s Steve Hubbard, Amy Lewis and Umito Choji acted for the shareholders of Cerberus on the transaction. Progeny’s corporate director Alistair Scott-Somers, with support from Laura Clark and Carly Jackson, acted as legal advisors to the founder shareholder.
Amy Lewis of RSM’s corporate finance team, said:
‘Advances in technology have transformed the security industry and Cerberus has developed a strong offering in technology-led remote monitoring services – establishing itself as a trusted provider. The deal delivers real synergies between both businesses and will help to accelerate growth, target new markets and support future innovation.'