Sonmarg Capital secures funding to acquire BWS Security Systems

September 2021

Home Alarm System
Client Sonmarg Capital
Sector Security and Fire Alarm System
Facility Commercial Loan
Funding Need Acquisition
Value Undisclosed
Team Corporate Lending
Region South West

 

  • Permanent capital investor Sonmarg Capital, makes strategic platform investment
  • The acquisition allows the security and fire systems business to grow with Sonmarg Capital’s strategic plans
  • Specialist lender Shawbrook Bank supported the acquisition with a bespoke commercial loan facility

Permanent capital investor firm, Sonmarg Capital, makes platform investment by acquiring leading independent provider of security systems BWS Security Systems Ltd, with the support of Shawbrook Bank.

The acquisition of BWS Security Systems Ltd is the first move by London-based Sonmarg Capital as the firm looks to build a strategic business in the security market. With a market size of over £1.4bn and an average growth rate of 5.6% per year over the last five years, the security system services industry in the UK is full of opportunity1.

BWS (established in 1988) is a market leading provider of security, fire and safety systems, headquartered in Bath.  BWS supplies, installs, maintains and monitors fire alarms, intruder alarms, CCTV and access control systems for commercial and residential customers, principally across the South-West of the UK.

 

BWS Branded Alarm System

 

With the commercial loan from Shawbrook, Sonmarg Capital is well placed to take the business to the next stage in its growth journey. Haris Khan, Principal at Sonmarg Capital, hopes to build and evolve the existing strengths and strategy of BWS Security Systems Ltd to pursue  growth plans for the future.

To help steer the company’s next phase of growth, Sonmarg Capital has recruited Benedict O’Halloran and Alexander Schuil to join the board. Benedict O’Halloran was previously the Chief Legal Officer at Verisure/Securitas Direct, the second largest home alarm provider in the world, with 3.6m customers in 16 countries. Alexander Schuil is the current Chief Executive of Briscoe Protective, a top 35 fire and security protection business in North America.

We are thrilled to announce the acquisition of BWS Security Systems. We plan to build further on the firm’s excellent customer service, strong customer retention and robust financial performance. We plan to continue the business’ growth through further investment into the core business, as well as seeking acquisitions that will help accelerate our growth plans. Customers can rest assured that nothing changes and service levels will only improve over time as we continue to invest in the business.

— Haris Khan, Principal at Sonmarg Capital

Haris added: “The team at Shawbrook were diligent in taking the time to understand our business, our strategy, and the significance of this acquisition. As a platform investment it represents a pivotal milestone not only for the growth of BWS Security Systems but also for us. As such, we needed a funder who would take a thoughtful approach to deliver a flexible funding solution whilst also providing us with the certainty we needed. Shawbrook did just that and we look forward to working with them more as we continue to advance our strategy.”

Steven Munt, Senior Director at Shawbrook Bank, said:

“After getting to know Haris and the ambitions he has for both the acquisition and for the future strategy of Sonmarg Capital, we quickly recognised the potential that could be unlocked with this transaction. We are excited to see how the funding package we crafted will enable both Sonmarg Capital and BWS Security Systems to further grow and prosper. It has been a real pleasure to work with Haris and we are eager to build on our relationship further as we look ahead to the future.”

Source:
1 Security System Services in the UK - Market Size 2010–2028, IBISWorld, July 2021.

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